Morocco: Net incurrence of liabilities, total (current LCU)

Key figures

Over five years it is up 62.56% from 40.87 billion in 2019 (10.21% a year on average, compounded). Since 1990 it is up 984.31% from 6.13 billion in 1990 (7.26% a year on average, compounded). The World Bank has no value for 9 of the years in between; the chart leaves those gaps open rather than joining across them.

What the numbers say

In 2024, Morocco's net incurrence of liabilities, total (current LCU) fell 12.47 billion on 2023 (from 78.9 billion to 66.44 billion).

Across the 20 yearly changes before that (1991 to 2023), the average change was +5.05 billion and a typical year strayed about 17.29 billion from that (the standard deviation). This year's change was 1.0 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 53.88 billion in 2020 and the biggest yearly fall was 31.52 billion in 2021. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2017 to 2024 the straight-line trend is upward, about 5.13 billion a year. A straight line explains 37% of the movement over 8 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Morocco had the 34th highest value of the 55 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Morocco in the 2024 ranking

• Malaysia — 31st of 55: 76.85 billion
• Mozambique — 32nd of 55: 71.65 billion
• Singapore — 33rd of 55: 66.75 billion
• Spain — 35th of 55: 65.74 billion
• North Macedonia — 36th of 55: 63.88 billion
• Albania — 37th of 55: 48.87 billion

What this measures

Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 26 values

Net incurrence of liabilities, total (current LCU) in nearby economies

• Afghanistan — 5.07 billion (2017)
• Bahrain — 1.14 billion (2020)
• Israel — 199.01 billion (2024)
• Jordan — 2.37 billion (2023)
• Lebanon — 1.13 trillion (2024)
• United Arab Emirates — 12.2 billion (2024)

More public sector data for Morocco

• Military expenditure (current USD) — 6.33 billion (2025)
• Military expenditure (current LCU) — 59.18 billion (2025)
• Military expenditure (% of GDP) — 3.54% (2025)
• Arms imports (SIPRI trend indicator values) — 392 million (2025)
• Military expenditure (% of general government expenditure) — 10.28% (2025)
• Armed forces personnel, total — 246,000 (2020)
• Net investment in nonfinancial assets (current LCU) — 54.25 billion (2024)
• Net investment in nonfinancial assets (% of GDP) — 3.4% (2024)
• Net lending (+) / net borrowing (-) (current LCU) — -63.18 billion (2024)
• Net lending (+) / net borrowing (-) (% of GDP)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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Questions people ask

What is Morocco's net incurrence of liabilities, total (current LCU)?

66.44 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1990?

It is up 984.31% from 6.13 billion in 1990 (7.26% a year on average, compounded). The highest value was 94.75 billion in 2020 and the lowest -4.28 billion in 2008.

How does Morocco rank?

34th highest of 55 economies with data for 2024.

Is the latest change in net incurrence of liabilities, total (current LCU) unusual for Morocco?

In 2024, Morocco's net incurrence of liabilities, total (current LCU) fell 12.47 billion on 2023 (from 78.9 billion to 66.44 billion). Across the 20 yearly changes before that (1991 to 2023), the average change was +5.05 billion and a typical year strayed about 17.29 billion from that (the standard deviation). This year's change was 1.0 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

Source

World Bank, World Development Indicators, indicator GC.LBL.TOTL.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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