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Morocco sees 2012 GDP growth at around 5 pct | ASHARQ AL-AWSAT English Archive 2005 -2017
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RABAT, (Reuters) – Morocco said it expects its energy-importing economy to grow by between 4.7 and 5.2 percent in 2012, near forecasts for 2011, on the assumption of an oil price 33 percent above the basis for this year’s budget.

In remarks carried by the official MAP news agency, Finance and Economy Minister Salaheddine Mezouar forecast average inflation of 2 percent next year, up from 1.4 percent forecast for 2011.

The state expects the burden of food and energy subsidies to fall by almost 8 percent to 40 billion dirhams in 2012, compared to this year. The state raised subsidies in 2011 by close to 150 percent as it sought to avert any spillover from revolts rocking the Arab region.