Mr. Baraka, the Finance Minister of the year 2013 according to the “Banker” magazine

Based on a British economic experts’ survey and the “Banker” magazine, a monthly international financial affairs publication owned by The Financial Times and edited in London, Mr. Nizar Baraka, Morocco’s minister of economy and finance has been appointed as the Finance Minister of the year 2013. This international recognition was gained not only from his successful moves to conduct economic reforms but also from his know-how throughout his career and proficiency in economics.

It is noteworthy to mention that Mr. Baraka went through many positions before being appointed by His Majesty the King Mohammed VI on January 3, 2012, Minister of Economy and Finance. After holding a degree from both the Mohammed 5th University of Economics and Law School and a PhD in Economics from the University

Aix-Marseille in France, in 1996, he joined the Ministry of Finance where he occupied several positions, including studies and financial forecasts assistant director. In October 2007, His Majesty the King Mohammed VI appointed Mr. Baraka as a Vice-Minister Delegate to the Prime Minister for Economic and General Affairs where he supervised numerous strategic issues, including the social economy, support price policy and purchasing power, and the Moroccan presidency of Organization for Economic Co-operation and Development (OECD) for International Investment in Middle East and North Africa region (MENA). In 2009, Mr. Baraka was chosen to be the Chairman of the Economic Committee and the Committee for External Relations of the Istiqlal party. In addition to his expertise in economics, Mr. Baraka is an active member of many organizations both national and international.
In his presentation on the financial law project for the year 2013 given to His Majesty the King Mohammed VI, Mr. Baraka was inspired by His Majesty’s high Orientations and commitments to consolidate the democratic, social and economic norms of the Kingdom also with the assistance of the government’s program for development. The project of financial law compounds the followings: the implementation of structural reforms and improving

governance as well as ensuring the restoration of macroeconomic and financial balance, reducing disparities and social sector through the continued upgrading of the educational system to ensure equitable access to education and improving the competitiveness of the national economy, the fight against illiteracy, poverty and insecurity, facilitating the access to basic health services and housing, the strengthening of solidarity and improvement of living conditions of the population, especially in rural and remote areas. Mr. Baraka noted that the government is willing to create a macroeconomic equilibrium based on the reduction of the fiscal deficit, taking into account the social equilibrium, citing in this regard certain social initiatives taken by the State in which the creation of the Cohesion Fund social assistance system of medical RAMED and support program enrollment Tayssir.

As a whole, Morocco’s economic performance is regarded as significant since it has been confronted by two main challenges such as the political unrest associated with the Arab Spring and the eurozone debt crisis. For Mr. Baraka, “During a financial crisis, countries tend to turn inward and implement protectionist policies, but that’s where the danger lies,” and also, “Morocco, to the contrary, is keen on making the most of its trade agreements with about 55 countries that gives investors access to 1.2 billion consumers.” According to Mr.Baraka, “In terms of the global economy, I believe that a brighter outlook is highly possible if the European economy manages to benefit from the recovery registered in the US and certain Asian countries, and hopefully starts to rely on the southern Mediterranean countries, such as Morocco, as strategic growth drivers.”

In short, Mr. Baraka’s title as the Finance Minister of the year 2013 does not come from nowhere; in fact, based on both surveys and experts’ analysis in finance that the good macroeconomic performance and low inflation were achieved under the leadership of Mr. Baraka. As a conclusion, experts asserted that they are very impressed by the vast field of economic reforms launched in Morocco. Hence, it is worthy to mention that the given title to Mr. Baraka is deserved.