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Morocco forecasts 5% growth rate -minister.

Summary: Morocco's 2011 appropriation bill forecasts a growth rate of 5%, an inflation rate of less than 2% and a budget deficit of 3.5%, Finance Minister said on Tuesday in Rabat.

Morocco's 2011 appropriation bill forecasts a growth rate of 5%, an inflation rate of less than 2% and a budget deficit of 3.5%, Finance Minister said on Tuesday in Rabat. "We forecast a growth rate of 5%, an improvement of one percentage point compared to 2010, with inflation contained at less than 2% and budget deficit brought down to 3.5," Salaheddine Mezouar told the press before the weekly cabinet meeting.

The minister added that the appropriation bill was prepared in no logic of austerity, as it provides for no reduction in wages and no review of social guidelines.

In spite of the global economic context, the appropriation bill aims at seeing through the development model initiated by HM King Mohammed VI by promoting growth rate, maintaining support for investments, reforms and sectoral policies and preserving the citizens' purchasing power and macro-economic balances, Mezouar said.

He also pointed out that the bill provides for measures in respect of rural areas and income-generating activities, adding that public investments will be increased.

The cabinet meeting will examine, Tuesday and Wednesday, the 2011 appropriation bill and the relevant texts, following the presentation of the Finance Minister.

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Publication:UMCI News (Potomac Falls, VA)
Geographic Code:6MORO
Date:Oct 13, 2010
Words:237
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