Public Management

Corruption Costs Morocco $5bn Annually, Hurts Economic Growth

Corruption Costs Morocco $5bn Annually, Hurts Economic Growth
Wednesday, 09 October 2024 14:07

Corruption costs Morocco about $5.09 billion (50 billion dirhams) each year, making up between 3.5% and 6% of the country's GDP, according to Mohamed Bachir Rachdi, head of the National Authority for Integrity, Prevention, and Fight Against Corruption (INPPLC). He shared this alarming figure during a conference held on October 8, 2024.

According to local media, Rachdi revealed that 23% of Moroccan businesses fell victim to corruption last year. The issue mainly impacts processes like licensing, permits, public procurement, and hiring in key sectors vital to economic growth.

Moroccan authorities have implemented judicial measures to tackle this issue, including setting up a direct hotline to report corruption cases. This initiative has already led to the arrest of 243 people caught in the act and the filing of 716 financial crime cases in court. However, Rachdi emphasized that these efforts are not enough to curb the widespread problem.

Despite significant reforms, Morocco has struggled to improve its Corruption Perceptions Index (CPI) ranking. In 2023, the country scored 38 out of 100, dropping from 73rd place in 2018 to 97th out of 180 countries.

Rachdi called for better coordination between national institutions, increased budget transparency, and the inclusion of specific anti-corruption measures in the budgets of various departments. He believes these reforms are crucial to Morocco's development and to restoring public and investor confidence in the country's institutions.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Deposits grow 2.7%, supporting lending recovery Average loan sizes small, credit risk persists Loans granted by Togolese microfinance institutions...
Gabon plans to raise up to CFA331 billion in domestic debt in early 2026 The revised target is about 43% higher than initially...
Africa looks smaller in SG’s 2025 accounts mainly due to subsidiary sales, not a collapse in demand or operating activity. SG exits some markets...
Proparco has invested in Helios Climate Fund, managed by Helios Investment Partners The fund has raised about $250 million after a second...
Most Read
01

Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...

Global Firepower Index 2026: Egypt, Algeria, Nigeria Lead Africa's Military Rankings
02

African startup M&A hits record 67 deals in 2025 Consolidation driven by funding pressures and ex...

African Startup M&A Hits Record 67 Deals in 2025, Led by Fintech
03

Touted as a tool of emancipation, blockchain was meant to give the Central African Republic a new fo...

Crypto Sovereignty Was CAR’s Goal. A Report Says Crime Risks Took Hold Instead
04

Royal Air Maroc signed a deal with DAE to lease 13 Boeing 737-8 aircraft. Deliveries are schedule...

Royal Air Maroc to lease 13 Boeing 737-8 jets from DAE as fleet expansion continues
05

CBE introduced CBE Connect in partnership with fintech StarPay. The platform enables cross-border...

Ethiopia’s CBE launches digital platform to channel diaspora remittances
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.