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Rabat, June 14, 2012 (MAP)
Morocco’s gross domestic product (GDP) is projected to record a shortfall of 0.3% in 2012, 0.74% in 2013-2014, and 0.69% in 2017, due to rises in petroleum products prices, the High Commission for Planning (HCP) said.
This is due to increase in consumer prices by 1.27% in 2012 and 1.90% in 2013, before slowing to 0.97% in 2017, the commission said in a simulation of the impact of rising petroleum products prices on the main aggregates of national economy.
The purchasing power of households would decline and their consumption would, accordingly, go down from 0.98% in 2012 to 1.53% in 2013 and to 0.97% in 2016-2017.
According to the HCP, the investment is expected to decline significantly by 0.59% in 2012 to 2.72% in 2016, affecting employment which is projected to lose jobs ranging from 8,430 in 2012 to 11,340 in 2017.
In addition, rising fuel prices would have a positive effect on the state budget, according to the HCP, which says that the trade balance is also expected to improve by a 0.81 percentage point of GDP in 2013-2014 and 0.59 in 2017.
