Participation of the Minister in a meeting on `Growth and Investment: Prospects for Morocco in 2012` : 30/03/2012

Participation of the Minister in a meeting on `Growth and Investment: Prospects for Morocco in 2012`

With Mr. Abdelilah Benkirane, Head of Government in attendance, Mr. Nizar Baraka, Minister of Economy and Finance, participated in a meeting held between members of government and French and Moroccan business leaders, on Wednesday, March 28th 2012 in Rabat under the theme: "Growth and Investment: prospects for Morocco in 2012."

In his speaking at the meeting, the Minister highlighted the efforts of the Government to strengthen and speed up the competitiveness through the development of sector based strategies in various fields.

He raised the difficulties linked to public accounts which showed a significant deficit in 2011 due in particular to charges related to commodity prices which affected the State general budget.

Mr. Baraka also put forward the specificities of the 2012 Finance Act which goal is to reduce the budget deficit to 3% by 2016 and increase public investment to the amount of 180 MMD, thereby supporting domestic demand and reducing the impact of the decrease in the external demand due to the crisis.

Hosted by the General Confederation of Moroccan companies (CGEM) and the French Employers` Association (MEDEF International), the meeting was an opportunity to provide answers to the questions of 200 French companies, and to exchange ideas and views on the prospects for investment and development of partnership between Morocco and France.

The meeting seeks to submit the visibility in the government`s medium- to long term economic strategy, particularly for the 200 French businesses participants at the meeting, a large majority of which expressed interest to invest in Morocco in fields such as tourism, airline industry, infrastructure, agriculture and agro-industrial commodities, as well as automotive equipment, offshoring and job training.