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
• IMF extends Niger’s Extended Credit Facility (ECF) program by one year through December 2026.• IMF approves a $41 million disbursement tied to...
EBRD grants $100 million loan to Banque Misr to expand credit access for SMEs and women-led businesses. Loan supports Egypt’s green finance...
UTB’s restructuring delayed to end-2026 due to incomplete audits; reorganization plan expected by March. Despite a CFA 15.2B injection, the bank...
DRC launches campaign to diversify investors in government securities 98% of bonds now held by banks; aim is to reduce risk and broaden...
Most Read
01

• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....

UEMOA: Inflation Drops to 0.6% in May, Driven by Lower Food Prices
02

• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...

WAEMU Sees Easing Conditions on Regional Interbank Market
03

• The U.S. imposed a 20% tariff on cashew exports from Vietnam and a 40% tax on suspected transshipm...

U.S. Tariffs on Vietnam Cashews May Disrupt Trade, Hit African Growers (Interview)
04

Cauri Money launches Gajo Money, an e-wallet for the Cameroonian diaspora, targeting €120 mil...

Cauri Money Targets Cameroonian Diaspora with Digital Wallet Launch
05

• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...

Qatar Airways Expands its Network in Africa, Building Presence in Kigali, Johannesburg, and Nairobi
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
Média kit : Download

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.