Morocco: New budget boosts funding for social programs

Morocco's proposed 2009 budget, currently awaiting parliamentary approval, was released on October 20th amid speculation about the impact the global financial crisis may have on the Moroccan economy. Talking about the bill, Finance Minister Salaheddine Mezouar told the press last week that "the unfavourable international economic situation, marked in particular by dizzying price rises in raw materials and the financial crisis, will have negative repercussions on growth worldwide".