Moroccan economy faring well, Youssoufi says
Morocco, Economics, 1/14/2000

Though not commensurate with needs accumulated for decades, the first yield of government action is positive and proves "we are on the right track" despite adverse climatic conditions and delay in the execution of 1998-99 budget, Premier Abderrahmane Youssoufi told the house of representatives.

In his statement Thursday, the prime minister said he would carry on the updating of institutions for increased investment and employment opportunities while preserving necessary macroeconomic balance.

He recalled the importance of the human element as the beneficiary from economic reform in the government statement of 1998 and the adverse legacy from previous administrations when his government took over in 1998.

The government has switched back to development plans and the 1999-2003 development plan will help check the effects of change, define priorities and bring under control economic and social reforms, he said.

Youssoufi reviewed legislation passed or under scrutiny and said that in a year, the ministerial committee examined 50 investment projects, 30 of which are ready for launching with a total amount of 6,5 billion dhs and 9,000 jobs. A dozen tourism conventions totalling 13 billion dhs have also been approved while 8 agreements worth 10 billion dhs are to be passed shortly.

Revenues from ever-picking up tourism reached 18 billion dhs in 1999, said the prime minister who also recalled the setting up of a nationwide program meant to secure a 60 million ton yearly yield of grains.

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