Highlights

Council of Government: presentation of the national economic conditions during the first half of 2012 : 01/08/2012

Council of Government: presentation of the national economic conditions during the first half of 2012

The Minister of economy and finance, Mr. Nizar BARAKA, noted Thursday, July 26th 2012 at the Council of Government, that economic growth in Morocco continues on a positive trend despite the unfavourable weather conditions and the slowdown in the growth of some export sectors.

Mr. Nizar BARAKA claimed that revenues of Moroccans residing abroad increased slightly by 0.4% while tourism revenues declined about 2 % adding that those of investment increased by 5.4% (+ 739 million dirhams). For their part, expenditures significantly increased by 33.4% (+ 1.2 MMDH) compared to the same period of the previous year, according to the Minister.

The Minister stated that the trade deficit worsened by 6.6 billion dirhams (MMDH), that is to say 7.1%, because of the appreciation in the value of energy imports.

Under the finance act , effective from the end of June 2012, the Minister stressed that public revenues recorded an increase of 8.5% (+ 7.9 MMDH) and an achievement rate of about 53.3% compared to forecasts, while current expenses increased by 11.6% (+ 6.6 MMDH).

As to investment spending, the Minister indicated that emissions recorded a rate of almost 4.44% during the first half of the current year.