Rabat – The broad lines of Morocco’s Finance Bill 2012, approved Friday by the Council of Ministers, affirm the country’s basic choices in public investment, diversification of growth sources and confirmation of social choices, said Economy and Finance Minister Salaheddine Mezouar.
These choices reinforce the position of Morocco as a country that has succeeded to manage the global crisis and that has made the right choice while taking into consideration the developments and changes related to the approval of the new Constitution, the choice of reforms and the preservation of key economic and financial balances, said to the press Mezouar, who presented Friday in Rabat, the outline of the proposed Finance Bill 2012 to the Council of Ministers chaired by HM King Mohammed VI.
The drafting of the Finance Bill 2012, added Mezouar, comes while the world is facing the risk of a new economic recession, the rise of commodity prices, inflationary pressure and low direct investment flows to regional and global levels and the employment challenge.
³We have highlighted, at the Council of Ministers, the efforts that have been made over the last four years but also the challenges that await us in the future,² he said.
In 2012, public investment will increase by another 8 billion dirhams to maintain and sustain growth, he said, adding that this year¹s Finance Bill expects about 4.8% growth, 2% inflation, a barrel of oil 100$ and a deficit that will be circumscribed around 4%.
Last modification 09/09/2011 09:51 PM.
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