Mr. Mohammed BOUSSAID, Minister of Economy and Finance gave, Friday January 27th 2017 in Rabat, a briefing on the macroeconomic results for the year 2016.
During this event, the Minister announced that the budget deficit of Morocco would have reached 3.9% of the gross domestic product (GDP) in 2016, against 4.2% in 2015.
Mr. BOUSSAID stated that despite an unfavorable international context, a low level of growth, the cost of specific tax measures and the failure to attain the projections of the Gulf Cooperation Council donations (GCC), the budget deficit continued its downward trend to around 3.9% of GDP.
The Minister noted that the evolution of the deficit could be achieved thanks to the continuation of the effort to control current expenditure and increase tax revenues.
Thus, tax revenues increased by 4.1%, while non-tax revenues increased by 1.7%.
Expenditures, on the other hand, declined by 0.1%, noting that the rate of investment issuance reached the exceptional level of 75%. The investment effort has been strengthened, in particular for infrastructure and social sectors.
Moreover, the growth rate of the Moroccan economy would be 1.6% in 2016, due to an 8% drop in agriculture value added.