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FinancialNews


  • 13-10-10

    Morocco to cut budget deficit in 2011 to 3.5%

    (MENAFN) Moroccan Finance Minister Salaheddine Mezouar said that the kingdom's budget deficit will shrink to 3.5 percent of gross domestic product (GDP) next year and inflation will stay unchanged at under 2 percent, Reuters reported. According to Mezouar, this year's deficit is forecast to be 4 percent and inflation is expected to stand at less than 2 percent. The minister also said the country would next year achieve complete control over the level of inflation at less than 2 percent and the budget deficit which will be reduced to 3.5 percent. Mezouar, speaking shortly before a cabinet meeting, anticipated Morocco's GDP to grow 5 percent in 2011, repeating a forecast he made last month. GDP growth this year is predicted to be about 4 percent.

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