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عبر _ Reuters
The Ottoman government said rising oil prices and the protection of world trade were putting pressure on the Moroccan economy as Morocco prepared the draft budget for 2019.
The government said in a statement that next year will be full of challenges badociated with the increase of trade protectionism in the global economy and the rise in oil prices.
Morocco is the largest energy importer in the region with an expenditure of 70 billion dirhams ($ 7.39 billion) in 2017.
The spokesman of the Mostafa al-Khaliji government told reporters at a weekly press conference that the year 's budget was based on the price of $ 60 a barrel, although the average price on world markets reached $ 73. Abdel-Latif al-Jawahri, governor of Bank Al-Maghrib, said last month that high oil prices and geopolitical conflicts could have an "immediate effect" on Morocco's fiscal finances, particularly in terms of d & # 39; borrowing.
The government said that the decline in private investment, the decline in tax revenue, claims to improve public services and the need to support the purchasing power of citizens are additional challenges.
The High Commissioner for the Plan expects the economy to grow by 2.9% in 2019, compared with 4.1% in 2017 and an expected growth of 3.1% this year.
The growth forecast for 2019 is based on a slowdown in foreign investment and a decline in farm receipts.
The government still faces consumer-led boycott campaigns that have pushed Sidi Ali and Santral Danone, Danone's Moroccan subsidiary, to issue profit warnings.
Boycotters who complain about rising prices have also targeted African petrol stations.
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