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Morocco's foreign debt rises 45.5 pct in past five years

Xinhua, July 6, 2016 Adjust font size:

Morocco's foreign debt has risen 45.5 percent since 2011, the Moroccan Ministry of Finance said Tuesday.

The debt reached 32 billion U.S. dollars by the end of March and now represents 32.3 percent of the country's GDP, according to the ministry's statistics.

The figures indicated that foreign debt increased 5.6 percent during the first quarter of 2016.

The same source also showed that the European stake in the Moroccan foreign debt sharply dropped between 2011 and this year, while the stake of commercial banks and international financial markets in the debt went up from 9.6 percent to 26. Endit