Morocco’s economy is estimated to increase approximately 3.5% in 2014 and the government will meet an objective to limit the budget deficit to 4.9% of gross domestic product, according to the finance minister.
Mohamed Boussaid also stated that the draft 2015 budget forecast a deficit of 4.3% of GDP as the government continues to manage spending and apply reforms without resorting to scarcity measures.
The finance minister also averred that the 2015 budget cannot be described as an austerity budget. According to him, there is no plan to increase taxes or to slash allocations for the community sector. It is a sensible budget that takes into consideration the requirement of continuing on the path of economic and community improvement.
In the coming year 2015, general investments will enlarge because they are needed to lessen social variations and to continue with big projects in education, health infrastructure and transport sectors.
Boussaid stated that the economy was approximated to progress about 3.5% in 2014, while inflation is estimated to be 0.7% and unemployment to stay at around 9.3%.