Macroeconomic Forecast MoroccoFebruary 2012 | Macroeconomic Forecasts
We expect Morocco's fiscal position to remain under pressure in 2012, despite declining food prices and likely inflows of GCC aid. We forecast the deficit falling to 6.0% of GDP in 2012, compared to an estimated 6.1% of GDP in 2011. Moreover, we caution that the longer-term sustainability of the country's fiscal position is dependent on ensuring that recent rises in current spending do not become entrenched, a prospect about which we are increasingly pessimistic.
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