Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Morocco's 2012 economic growth may decelerate to 3 %: WB  Join our daily free Newsletter

MENAFN - 09/09/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN) The World Bank's vice president for the Middle East and North Africa, Inger Andersen, stated that in 2012, Morocco's economic growth is expected to slow to nearly 3 percent, compared with 4.9 percent in 2011, reported Arab News.

Andersen attributed the projected decline to the country's dependence on the euro zone for trade.

She added that the country's budget gap in 2011 hit 6.1 percent of gross domestic product (GDP), driven by higher international commodity prices and rising subsidies bill, mainly on food.

On the other hand, Moroccan Finance Minister, Nizar Baraka, said that the better financial situation in 2012 would help the government reduce the budget shortfall to only 5 percent.

It is worth noting that during the current year; the cost of food in Morocco is relatively high, driven by an increase of 20 percent in petrol prices and hard drought that has badly affected agricultural production.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help