Morocco hopes to lower budget deficit in 2012

Reuters, Thursday 22 Sep 2011

Economy will grow 4.8 per cent and inflation will remain unchanged, an outline of the country's draft budget shows

Morocco hopes to lower its budget deficit next year to 4 per cent of gross domestic product (GDP) and the economy is expected to grow by 4.8 per cent, an official document outlining the draft budget for 2012 showed.

Inflation is projected to be 2 per cent in 2012, unchanged from what the government forecast for 2011.

Morocco's central bank estimates the budget deficit for 2011 will be 5 per cent of GDP. The International Monetary Fund (IMF) expects Morocco to close 2011 with a budget deficit of at least 5.5 per cent, which would be the highest in 10 years.

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