Report: Morocco\'s Trade Deficit Reached 41.5 percent in October 2000
Morocco's trade deficit reached 38 billion DH ($3.79 billion) in the January-October 2000 period, worsening by 41.5 percent compared to the same period of 1999, according to Maghreb Arabe Presse (MAP).
By end October 2000, imports reached some 101 billion DH ($10.09 billion), marking an increase of 17.1 percent compared to 86.3 billion DH (about $ 8.3 billion) in the same period of 1999, according to MAP, citing official figures. Meanwhile, Exports only grew by 6.1% to reach 63 billion DH ($6.3b), compared to 59.4 billion DH a year before, said the agency.
A press report in April 2000 said the government drafted a 80.2-billion dirhams ($7.75 billion) six month budget from July that saw a three-percent growth in Gross Domestic Product (GDP) and inflation at 2.3 percent.
The budget deficit was expected to reach 5,073-million dirhams ($490 million) in July/December 2000, down 36.2 percent from 7,956 million dirhams in the same period in 1999, agencies reported.
The budget forecast an unchanged current account deficit at around 1.0 percent of GDP but a 63-percent rise in privatization provided 2,850-million dirhams ($275.3-million) during July/December 2000 compared with the last six months of 1999.
During the first seven months of the 1999-2000 fiscal year, Morocco's general state budget posted a surplus of $ 420 million, compared to a deficit of $440 million in 1998-1999.
The surplus was attributed to the revenues of the second GSM license, sold for $1.02 billion to a Spanish-Portuguese-Moroccan corporation "meditelecom" Tax – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)