Morocco's GDP to grow by 6% in 2000, minister

Morocco's gross domestic product (GDP) is expected to grow by 6% in 2000, the Moroccan economic forecast and planning minister said.

The balance of payments deficit will stand at 1%, while investments will post a rate of 25% and inflation will be curbed to 2%, Ahmed Aouad told MAP news agency.

Some 24.2% of the investments budget will be allotted to social projects by 2004 against 19% during the previous years, the minister said, adding that the productive and equipment sectors will have their share in the budget reduced from 36.3% to 32.6%.

The government will try to increase the treasury savings from 1.8% to 3.8% of the GDP and to contain the global budget deficit at 1.2% of the GDP in 2003-2004 against 2.4% previously, he said.

For Aouad, Morocco has to post an investments rate of 25% of the GDP to be able to record a strong growth rate of 5%.