economic growth expected at 4.5% in 2023

National economic growth should reach 4.5% in 2023, instead of 1.5% expected this year, despite a troubled international situation, said Wednesday in Rabat, the Minister of Economy and Finance, Nadia Fettah Alaoui.

Nadia Fettah Alaoui, who presented before the Committee on Finance and Economic Development in the House of Representatives a presentation on “the execution of the 2022 Budget and the three-year budget programming 2023-2025”, underlined that these forecasts are based on assumptions a cereal harvest of 75 million quintals (Mqx) in 2023, a drop in the price of butane gas to 700 dollars/ton and a fall in the price of oil to 93 dollars/barrel and consequently, the return inflation rate at 2%.

At the same time, she noted that these forecasts are likely to be revised downwards in the event of a further deterioration in the prospects for the recovery of the world economy in 2023, in particular in the European Union due to the repercussions of the war in Ukraine and its effects on commodity prices and global production and supply chains, in addition to tightening monetary policies to control inflationary pressures.

The ministry is thus targeting the reduction of the budget deficit in 2023 to 4.5% and 3.5% in 2025, she said, considering that the achievement of these objectives requires a series of reforms and measures. requiring the mobilization of additional resources.

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