Morocco World News with Maghreb Intelligence
Morocco World News with Maghreb Intelligence
Rabat, August 4, 2012
Moroccan independent economists are sounding the alarm about the economic situation of the kingdom. The status of the Moroccan economy has worsened since the inauguration of the Government of Abdelilah Benkirane seven months ago.
“The team lacks the sense of anticipation. We feel that in the face of the crisis, the Islamist government lack visibility and analysis tools,” says an expert from Casablanca, who has long been part of a ministerial cabinet.
Recently, Nizar Baraka, the Minister of Finance confirmed that economic aggregates are almost all in red. The lack of cash reached 75 billion dirhams ($8 billion), while the trade balance deficit reached 99 billion dirhams ($11 billion).
But what worries observers is not so much the impact of the global crisis on the economy Sharifian, but the lack of reactivity of the Moroccan authorities. Rising fuel prices decided two months ago to relieve the compensation fund and finance the state had no impact on the economic situation.
Today, the Benkirane team, in power for seven months, seems to be pressed against the wall, especially as banks refuse to take risks to finance the national economy by making slight but continued increases of their interest rate.
