Morocco forecasts 4.6% economic growth in 2011, HCP   Leave a comment

Casablanca – Morocco’s economic growth is likely to grow 4.6% in 2011, the Head of the High Planning Commission, Mohamed Lahlimi, said on Wednesday.

Lahlimi, who was presenting the 2011 forecasts, said that these forecasts took consideration the provisions of the 2011 finance bill notably the 21.4% increase in public administration investments and a 7% wage bill rise in addition to financial measures taken to boost small and medium enterprises.

Cereal production is seen at 70 million quintals during the 2010-2011 crop year following considerable rainfall, he said.

Non-farm growth, which posted a decrease in 2010 due to the financial crisis, will increase notably in the services sector amid a recovery of global economy.

In this respect, Lahlimi said external demand is expected to jump 6% in 2011. Morocco’s budget deficit is forecasted to shrink from 4.2% in 2010 to 3.6% in 2011, while foreign exchange deficit is seen to rise to 3.6% of GDP in 2011 from 2.7% in 2010, Lahlimi said.

Source: map.ma

 

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Posted February 9, 2011 by newworldconsulting in Uncategorized

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