Moroccan Govt. announces 08- 2012 economic strategy

economics minister Salaheddine Mezouar

Casablanca - Economy and Finance minister, Salaheddine Mezouar, unveiled the main aspects of the 2008-2012 strategy for socio-economic development to cope with the current global economic situation.

Speaking at a conference on "the current economic situation and the 2008-2012 prospects," Mezouar said despite a gloomy global economy that is characterized by soaring prices of raw materials and energy, notably oil, Morocco continues to achieve major steps forward at all levels.

The North African country needs an innovative private sector to reduce the unemployment rate and poverty rate that currently stands at 21% of the total population, he said.

Highlighting the economic prospects of Morocco in 2008, the minister assured the economic players that inflation will remain under control in a range of 2%, the budget deficit will be reduced to 3% of GDP, and global economic growth will reach 6 ,8%.