Draft 2002 appropriation bill predicts a 4.5 percent growth

The draft 2002 appropriation bill, presented Friday to the House of representatives, predicts a 4.5 percent growth rate and a budget deficit of 3 percent of the GDP in 2002.

According to the bill --presented by economy, finance, privatization and tourism minister, Fathallah Oulalou - the forecasts are based on the possibility of an average agricultural harvest, an inflation of 2 percent and oil prices of 23 dollar per barrel.

Agriculture is a key economic sector in Morocco. It contributes 20 percent to the country's GDP and employs half of a 10-million workforce.

The regular drought that hit the country weigh heavily on the sector and hence on the country's economic growth.

The draft appropriation bill put financial resources at 159,9 billion dirhams and global charges at 165,8 billion.

The bill, which notes that Morocco's external debt was reduced to $ 15 billion, predicts the creation of 10,845 job opportunities and other social gains including the improvement of pensioners' situation and the reinforcement of struggle against poverty, illiteracy and unhealthy housing.