Morocco one of two African states with investment grade

Morocco offers a platform for companies that want to export as it is one of two only countries with an S&P investment grade, Finance Minister Mohamed Benchaaboun said.

He recalled that the same credit rating agency has upgraded Morocco’s outlook to stable further boosting its position in international sovereign debt market.

The minister told reporters Tuesday in Rabat that the 2020 draft budget allocates 26 billion dirhams to boost the purchasing power of citizens and fight disparities and that the budgets of education and health were significantly increased to 72.4 billion dirhams and 18 .6billion dirhams respectively.

The new draft budget provides for creating 43676 jobs in the public sector including 16,000 in the educational sector and 4000 in the health sector.

The budget deficit is expected to stand at 3.5% as the government plans to generate 12 billion dirhams from better cost control and privatization inter alia.

Besides spending on social services, the government plans to allocate 9.6 billion dirhams to back the regionalization plan and 6 billion dirhams as part of social dialogue commitments.

Growth would stand at 3.7% with prospects of a cereals yield of 70 million quintals, an oil barrel price of 67 dollars and gas price of 350 dollar per ton.

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