Morocco, Most Indebted Arab and African Country: McKinsey

According to a new report by McKinsey Global Institute, Morocco is the most indebted among Arab and African countries. The kingdom’s debt-to-GDP ratio stands at 136 % or an increase by 20 percentage points of GDP. The analysis focuses on the debt of the “real economy”: governments, nonfinancial corporations, and households. The report has revealed that debt-to- GDP ratios have increased in all 22 advanced economies reviewed by the study. Morocco comes ahead of both Egypt and Saudi Arabia which have actually succeeded in reducing their debts. The report has also found that global debt has grown by $57 trillion or 17 percentage points of GDP since 2007, to stand at $199 trillion, equivalent to 286% of GDP.