Rabat – Controlling macroeconomic balances, supporting businesses and drawing foreign investment are key words in the government macroeconomic action for 2012-2013, said a report by the executive issued on Tuesday.
The governmental performance is noteworthy with mainly the decrease of the budget deficit (from 7.3% in 2012 to 5.4% in 2013), a growth rate which stood at 4.8% in the last year and a volume of foreign investment that reached MAD 40 billion, said the report entitled “government action in 2012-2013: preliminary impact and future prospects”.
Controlling budget deficit was possible on the back of several measures namely the freeze of MAD 15 bln of investment by giving the priority to the implementation of 21 bln relocated investments, the adoption of an oil product prices’ indexation system and the adoption of an efficient policy for expenses’ rationalization.
Net currency reserves rose in 2013 to 150.3 bln, enabling to recover more than 4 months of goods and service imports, according to the report which shows also an increase of 2.1% in the deficit of the trade balance in 2013, which stood at 14.9 bln in 2012 and 29.7 bln in 2011.
The investment committee approved in 2012 an investment volume exceeding 46 bln, meant to create 10,000 jobs, while investment approved in 2013 reached a volume of MAD 42 bln likely to help generating 2,000 job opportunities, said the report which underlined that FDI rose to 40 bln in 2013, versus 32 bln in 2012.
In addition to Morocco’s eligibility for a Precautionary and Liquidity Line (PLL) worth 6.2 billion dollars, the report noted the support for public investment that is shown through an investment in the public sector which jumped from 188.3 billion dirhams in 2012 to 180.3 billion dirhams in 2013, against an overall investment effort with reached only 167.3 billion dirhams in 2011 and 163 billion dirhams in 2010.