Morocco’s Economy and Finance Minister Salaheddine Mezouar, says that the country’s 2011 appropriation bill is predicts the creation of 18,802 jobs and cutting down on the operating expenses of the administration.
Why cut down the Administration’s Operating Expenses?
The Economy and Finance minister who presented the draft of the country’s 2011 appropriation bill before the Moroccan House of Representatives, emphasized that the cutting down of the administration’s operating costs aims to make sure that a necessary financial margin in order to do the following:
- Pursue key reforms
- Implement economy strategies
- Meet the government’s social obligations.
What Does the Project Foresee?
The project foresees the following:
- Five percent (5%) growth rate
- Two percent (2%) inflation rate
- 3.5 percent budget deficit
- 75 dollars barrel oil
Which Sectors will Contribute to Morocco’s 5 Percent Growth Rate?
The Moroccan real estate market is one of the sectors that will contribute (immensely) to the growth rate of the country’s economy. The Moroccan tourism industry is also one of the sectors that will contribute to the growth rate of the Moroccan economy.
How Can Real Estate Investors Generate Jobs for Moroccans?
Because the real estate market in the Kingdom is getting bigger, better and well developed, foreign investors can help the Moroccan economy more by simply generating income to the citizens who live in this country. For example, if an investor is planning on constructing a hotel or resort complex along Morocco’s beaches, investors can easily get the manpower that they need. Investors can also assist people by purchasing their houses or apartments that have been put up for sale and convert them into more lucrative business which they (the people) can also benefit from.
Will Investors Feel Comfortable Investing in Morocco’s Real Estate?
Morocco’s Sovereign, HM King Mohammed VI and the United Arab Emirates have allocated huge investment into significantly increasing tourism further to an aim of 10 million visitors annually before 2011. This particular investment including several tax benefits will also help investors feel very comfortable in putting their money in Morocco’s real estate market. There is a very small number of locations in the world where investors can look forward to investing at great prices and expect to get immediate rental return with a high capital appreciation prospects.
What Has the Moroccan Government Put In Place to Make the Country Investor-Friendly?
Foreign investors can feel very safe investing their money in Morocco. The Moroccan government has introduced certain reforms that go way back to the 80s. These reforms where put in place in order to help improve the country’s economic conditions. Regarding the issue of taxes, the Moroccan government has taken great care in charging too much taxes on properties – doing this, has ensured that businesses can, to a large extent experience their profits on the capital.
The Moroccan government is taking every step to ensure that the country is every vacationer’s dream destination, every investor’s precious cash cow and every citizen’s dream country.
Filed Under: Economic News of Morocco