Morocco has joined the category of "low-risk" countries in the management of public finances, according to the latest World Bank report entitled "country financial accountability assessment."

The report conducted a risk assessment on all methods, procedures and public finance management tools applied in Morocco, before its classification on a scale of four risk levels: low, average, important and high, the Moroccan News Agency (MAP) reported on Tuesday.

The reforms, undertaken over the past three years in Morocco, did not cause any risk increase despite of their number, scope and sensitivity, said the World Bank's report, which reviews the historical background of the reforms, to establish a diagnosis on their foundation, challenges, implementation and prospects of their development.

While lauding these "important and innovative" reforms which have made Morocco's overall risk to remain at a lower level, the report however highlights several inadequacies in the country's public finance system.

Source: Xinhua