Minister expects good economic performance in 2001

Morocco's minister of economy, finance, tourism and privatization, Fathallah Oualalou, is expecting a good performance of the Moroccan economy in 2001 in view of a positive international juncture and internal factors.

The minister, who was speaking at an internal meeting of the ministry executives, said he was expecting growth rate to reach 8% if the agricultural season is good, the budget deficit to be reduced to 3%, investment rates to reach 25% and inflation 2.5%.

The minister said all indicators show that Europe will know a strong growth rate and will pull the Moroccan economy which will benefit from the Euro appreciation against the US dollar. He added that the decreasing oil prices, the alleviation of the food bill, tourism recovery, improvement of remittances by Moroccans abroad and of foreign investments, and, most of all, prospects of a good farming year are all reasons for his optimism.

He added the government is implementing instructions given by King Mohammed VI geared toward investment promotion and will set up shortly a body to support and encourage investors. Priority will be given to productive sectors and to seeking better ties with economic operators, he said stressing the importance of easing administrative procedures and de-concentrate decision-making.