Morocco will witness a remarkable economic growth in 2001, minister of economy and finance, Fathallah Oualalou, was quoted as saying by ArabicNews.com.
The minister said he was expecting the growth rate to reach 8 percent, adding that Rabat is hopeful that the budget deficit to decrease to three percent.
The minister said that the decreasing oil prices, tourism recovery, improvement of remittances by Moroccans abroad are all "reasons for his optimism."
The government is implementing instructions issued by King Mohammed VI to promote foreign investment, said the minister.
During the past three years, Morocco's inflation stabilized at 3 percent, according to an online publication by the International Monetary Fund (IMF) in 2000.
However, said the publication, continued reliance on drought-sensitive crops in the context of larger-than-usual fluctuations in rainfall has induced considerable volatility in output, and average growth in the nonagricultural sectors has hovered around three percent in the 1990s.
In 2000, growth was sustained by favorable terms of trade, strong tourism receipts, and a resurgence of private investment, according to the IMF -- Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
