The 11th international symposium on Public Finances “Public Finance sand State’s sovereignty”» : 16/09/2017

The 11th international symposium on Public Finances “Public Finance sand State’s sovereignty”»

​The Minister of Economy and Finance and the association of the international foundation for Public Finances (FODAFIP), organized, September 15th and 16th, 2017 in Rabat, with the support of the French magazine of public Finances(RFFP), the 11th edition of the international symposium on Public Finances, under the theme: “ public Finances and States’ sovereignty”.

This topic dealt with numerous constraints that States increasingly face in defining and implementing their budget, fiscal and monetary policy and this in line with the major changes in the international environment namely globalization, trade liberalization and the development of the digital economy.

The opening of this meeting was characterized by the speech of the Minister of Economy and Finance, Mr. Mohammed BOUSSAID, delivered by Mr. Noureddine BENSOUDA, the General Treasurer of the Kingdom.

Thus, the Minister considers that it is now reasonable to address States’ sovereignty in terms of Public Finances, their role in society and the Administration’s freedom of action to fulfil its tasks properly.

Mr. BOUSSAID, therefore  referred to a number of Factors up on which this legitimacy relies. These factors are particularly obvious through the international environment characterized by globalization, the impact of the economic and financial crisis 2008,  the weight and strategies of major international enterprises, the needs of citizens in terms of economic and social development and the challenge use of the significant budget funds.

The Minister stated the case of multinational firms that stimulate the States’ tax competition to attract investment within their territory and have access to a set of tax evasion techniques and profit shifting and thus restricting States’ financial resources.

The rapid development of the digital technology with which States are unable to keep up , nor to come out with an adequate tax legislation framework, is also part of these components which force States to transfer, abandon or give up some of their fiscal, monetary and budget authority.

In addition, at the opening session, introductory presentations on the issue of this edition were presented by Mr. Michel BOUVIER, Professor at the University of Paris 1 Panthéon-Sorbonne, President of FONDAFIP and Director of the French magazine of Public Finance as well as by the General Treasurer of the Kingdom, Mr.  Noureddine BENSOUDA.

 The three panel discussions that took place, Saturday,  September  16th 2017 revolved around  important sub-themes:

1st panel: Financial Sovereignty: which fact?

 The participants in this panel discussed numerous themes within the framework of the sovereignty of the State in terms of financial matters. Thus, the stakeholders made statements on the monetary power in relation to the sovereignty of the States. They also discussed fiscal sovereignty by focusing on the cases of Morocco and France. The challenges faced by taxation with the development of digital technology and the debt limitation to state sovereignty were also debated at this panel.

2nd panel: Budget sovereignty: which future?

 The discussions at this second section focused on four highly topical issues. The first dealt with the relationship between the budgetary decision-making and the effect of international establishments. The second clarified Parliament's budgetary sovereignty. The main focus of the third was the tools of public financial management in relation to the sovereignty of State. Finally, the fourth topic discussed the case of the Court of Auditors, as a key player in the budget sovereignty of States.

3rd panel: •Public Finances and States’ sovereignty: what are the future challenges?

In the 3rd panel, Moroccan and French experts debated the stakes for tomorrow, public finances and state sovereignty.