Macroeconomic Forecast Morocco

We are forecasting a jump in Morocco's import bill to US$33.17bn in 2008, up from last year's US$29.10. Further upside risks stem from sustained high prices of food (although the volume of food imports should be lower than in 2007 thanks to increased domestic production) and fuel. Our average oil price forecast for Brent crude currently stands at US$100/bbl for 2008, although prices rose to more than US$135/bbl in June.

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