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21-10-18
Morocco's 2019 budget deficit to drop to 3.3 percent
(MENAFN) Morocco is expected to witness a decline in its deficit of the draft budget for next year to hit 3.3 percent of the gross domestic product.
The forecast rate is a drop from the 3.8 percent of the GDP for this year, the government noted in a statement.
The figures were revealed in the government statement which was released following the passing of the draft budget at its weekly council.
The statement announced the Moroccan economic growth for 2019 to be project to stand at 3.2 percent, a fall from 3.6 percent recorded in 2018, with the average cereals harvest reaching 7 million tonnes.
The statement further declared a decision to allocate 17.67 billion dirhams for subsidies of wheat, cooking gas and sugar, a boost compared to the 4.65 billion dirhams for 2017.
MENAFN2110201800450000ID1097596755
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