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Morocco's new gov't targets 5.5 pct economic growth

Updated: 04 21 , 2017 10:35
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RABAT, April 20 -- Moroccan government vowed to reach an average economic growth between 4.5 and 5.5 percent a year during its 2016-2021 mandate, the newly appointed Prime Minister Saadeddine El Othmani said on Wednesday.

When delivering his first speech presenting the government's program at the parliament in Rabat, Othmani pledged to cut the government's budget deficit to 3 percent of GDP by 2021 and reduce unemployment rate to 8.5 percent.

He stressed that the government aims to ensure sustainable economic model and improve the business environment to join the top 50 countries in the World Bank's Doing Business report.

He also insisted that the government will raise cooking gas and sugar subsidies after the previous government removed subsidies on gasoline, diesel and industrial fuel.

The new coalition government, headed by Prime Minister Othmani, was appointed by Morocco's King Mohammed VI on April 5 after six months of political deadlock.

The PM's moderate Islamist Party of Justice and Development won parliamentary elections in October. It forged an alliance with five other parties to form a government coalition.

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