Morocco: High Planning Commissioner Calls for Exploiting Inflation to Encourage Growth
High Planning Commissioner Ahmed Lahlimi Alami noted that the majority of emerging economies are witnessing an inflation rate of more than seven percent, while inflation in Morocco rated less than one percent.
He criticized the government for encouraging foreign investment by major companies rather than empowering small and medium enterprises.
At a press conference he held in Casablanca on the economic situation in 2019 and its outlook in 2020, Lahlimi expected Morocco’s growth rate to drop from 3 to 2.7 percent this year due to the decline in the agricultural sector’s net output.
He expected the non-agricultural sector to witness a growth from 2.8 to 3.2 percent in 2018.
The Moroccan auto industry will witness a 6 percent relapse due to the global market crisis, he added.
This sector – highly supported by the government – has made a remarkable achievement, forming more than 20 percent of total Moroccan exports, Lahlimi said.
He demanded the government to adopt an expansionary fiscal policy to back economic growth and allow the government to pay off its debt.