Morocco plans reduction of 2015 budget deficit to 4.3 per cent

Morocco plans to reduce its budget deficit to 4.3 percent of gross domestic product (GDP) in 2015 from an estimated 4.9 percent this year, the government said.

The North African country expects its economy to grow 4.4 percent next year, after slowing to 2.5 percent in 2014, the government added in a statement late on Friday.

It is also planning to spend 23 billion Moroccan dirhams on subsidies in 2015, down from 35 billion in 2014 and 42 billion in 2013.

Reuters