RABAT, July 23 (Reuters) – Morocco’s fiscal deficit will not exceed the budgeted 5 percent of Gross Domestic Product (GDP) in 2012, without taking into account the full impact of a planned reform of the country’s costly subsidy system, the budget minister said on Monday.
Idriss Azami al-Idrissi also told Reuters that GDP growth this year will be close to the lower end of the finance ministry’s 3-4 percent forecast bracket. He warned however that the full impact of the worsening crisis in the euro zone, Rabat’s main trading partner, will be felt in the second half of this year. (Reporting By Souhail Karam; editing by Ron Askew)
