Moroccan Budgetary deficit at 3.9pc in 2005, official
Morocco, Economics, 2/14/2005

The budgetary deficit of the gross domestic product (GDP) in Morocco is expected to reach 3.9pc in 2005, according to the High Commissioner for Planning (HCP).

This situation is due to a stagnation of tax receipts and an increase in civil service expenditures especially after salaries revaluation, pointed out Sunday the HCP in a press release.

Casablanca stock exchange started 2005 with promising figures (MASI increased by 0.9 on January). Moroccan market benefit capacity will be consolidated in 2005 through good macroeconomic aggregates.

"Dynamism achieved during the end of last year is coming back," especially that many companies will be subscribed in the stock exchange following Maroc Telecom subscription, said the release.

Concerning the monetary market, excess liquidity is expected in 2005 as far as deposits growth pace remains higher than that of loans growth. Recovery of loans dedicated to equipments, real estate and consumption would promote the growth of loans offer, which would lead to an economy development of 5.2pc.

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