Macroeconomic Forecast Morocco

We expect real growth to reach 4.9% this year, with a budget deficit of at least 4.4% of GDP. Persistent oil price strength poses a downside risk to the fiscal deficit, as the 2004 budget was based on an oil price assumption of US$25/b, whereas the OPEC basket average was more than US$39/b as we went to press. Since the government subsidises refined petroleum products, high oil prices are a considerable drain on state finances.

To read the full article, please choose one of the following options: