Mr. Nizar BARAKA, Minister of Economy and Finance, outlined the status of the national economy and the enforcement of the 2012 Finance Act at the meeting of the Council of Government, Thursday, May 31st 2012.
Revenue showed, at end April 2012, an increase of 7.2% (4.3 billion dirham) compared to the same period of 2011 and a rate of achievement of 33% from preliminary forecasts, stated the Minister.
He stressed that the pace of spending was "normal" since the beginning of the current year and appropriations were consistent with the decrees promulgated in connection therewith.
On the other hand, the ordinary expenses increased by 16.3% (10.3 billion dirhams) because of the increase in clearing costs (32%) and the wage increase (+ 16.7%), specified the Minister.
The rate of the implementation of investment spending reached 24% during the first four months of 2012, he added, identifying "some vulnerabilities" that recently characterized the international situation.
The major changes of the Moroccan economy during the first four months of the current year, indicated in the whole, that the economic growth maintained its positive rate, in spite of the unfavourable climatic conditions and the deceleration of some export sectors, considered Mr. Nizar BARAKA.
Bearing in mind these changes, growth rate is expected to be 3, 4% compared to 4, 2% previously reported, he stated.
Moreover, he noted an increase of the trade deficit amounting to 6.3% at the end of the last April and an improvement of the recipes of Moroccans residing abroad and travels, respectively of 1.5 and 1%.