This paper analyzes the drivers of public debt dynamics in Morocco using an accounting-based decomposition of the debt accumulation. The study quantifies the respective contributions of interest costs, economic growth, and the primary balance to changes in the debt-to-GDP ratio, and further decomposes the growth component into agricultural and non-agricultural sources. The results show that debt dynamics are primarily shaped by the interaction between interest payments and the denominator effect of growth, highlighting the dominant role of the interest–growth differential in mechanical debt accumulation. The primary balance emerges as a key policy-driven component, with years of fiscal slippage closely aligned with marked increases in the debt ratio. The sectoral decomposition indicates that the stabilizing effect of growth is structurally anchored in non-agricultural-activity, while agricultural growth is comparatively volatile. This paper provides a policy-oriented application of debt decomposition to a structurally dual emerging economy. By explicitly distinguishing agricultural and non-agricultural growth contributions, the analysis offers additional empirical insights into how growth composition shapes the stability of debt trajectories in climate-sensitive economies. The results suggest that aggregate growth should not be interpreted as a homogeneous stabilizer in dual economies, with important implications for fiscal sustainability assessments in emerging markets.

Dye-sensitized solar cells (DSSCs) have undergone a decisive transition from efficiency-driven laboratory devices to stable, scalable, and application-oriented photovoltaic systems during the period 2020–2025. This review critically analyzes approximately 100 representative and influential DSSC research articles published during the 2020–2025 period, selected on the basis of device performance, operational stability, materials innovation, and relevance to emerging indoor photovoltaic and IoT applications. Particular emphasis is placed on the emergence of copper-based redox mediators, the transition toward quasi-solid and solid electrolytes, advances in photo stable organic sensitizers, and the development of monolithic device architectures. Recent progress has enabled DSSCs to demonstrate indoor power conversion efficiencies (PCEs) exceeding 13% under low-intensity artificial illumination, along with operational lifetimes beyond 10,000 h under controlled indoor testing conditions. Recent progress has enabled DSSCs to demonstrate indoor power conversion efficiencies exceeding 13% under low-intensity artificial illumination, along with operational lifetimes beyond 10,000 h under controlled indoor testing conditions. These advances position DSSCs as leading candidates for indoor photovoltaics and Internet-of-Things (IoT) energy harvesting applications.