Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Finance
Morocco Business Forecast Report Q4 2012

Morocco Business Forecast Report Q4 2012 - new country guide report published


Print article Print article
© companiesandmarkets.com

companiesandmarkets.com
companiesandmarkets.com
2013-01-01 01:08:53 - Morocco Business Forecast Report Q4 2012 - a new country guide report on companiesandmarkets.com

Despite not possessing hydrocarbon wealth, the economy will remain a relative outperformer in North Africa over the medium term. Though 2012 will prove a challenging year as exposure to the European recession takes its toll, investor interest in the country as an export-oriented manufacturing hub for the European market, coupled with a burgeoning tourism industry, should bode well for Morocco´s underlying growth momentum through to 2015.

We expect inflation in Morocco to continue rising through the remainder of the year. Although core inflation will remain subdued, higher food prices and the scaling back of government fuel subsidies will send the headline print higher, and we forecast inflation to reach 2.5% year-on-year (y-o-y) by end-2012, up from 0.9% at the end of

 

 

last year.

Major Forecast Changes

On the back of a series of tax hikes, as well as plans to cut back on public spending on energy subsidies, we have revised down our forecast for Morocco´s fiscal deficit in 2012, from 6.2% of GDP to 5.5%. That said, we stress that it is far from guaranteed that planned subsidy reform will be implemented in full, and as a result, the country still faces significant fiscal risks.

Key Risks To Outlook

Our forecasts for both economic activity and fiscal policy assume that Morocco will benefit from significant inflows of foreign aid from the Gulf Cooperation Council (GCC) and other organisations in 2012. Should this assistance fail to materialise, it would pose serious downside risks to the country´s outlook. Morocco´s balance of payments position is steadily deteriorating.

Persistently high international commodity prices and weak growth in the eurozone are taking their toll on the current account, while financial account inflows have consistently failed to cover the shortfall. While we are not expecting to see a dirham devaluation in the near term – owing primarily to political considerations – the risks to this view are growing, and the possibility of a devaluation over the next 12 months is no longer negligible.

Click for report details: www.companiesandmarkets.com/Market/All-Sectors/Country-Guide/Mor ..

Browse all All Sectors Country Guide Reports www.companiesandmarkets.com/Market/All-Sectors/Country-Guide?aCo ..

Browse all All Sectors Company Profile Reports www.companiesandmarkets.com/Market/All-Sectors/Company-Profile?a ..

Browse all Latest Country Guide Reports www.companiesandmarkets.com/Market/All/Country-Guide?aCode=f3fb3 ..

About Us
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.com’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.


Author:
Mike King
e-mail
Web: www.companiesandmarkets.com
Phone: London: +44 (0) 203 086 8600

Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com