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Mr Boussaid invited to the Centre Marocain de Conjoncture
On February 24, 2009 , Mr Mohamed Boussaid, Minister of Tourism and Handicraft, was guest at the 19 th meeting of the Centre Marocain de Conjoncture (CMR), organised in Casablanca under the theme of “Impact of the financial crisis: which way out?”
Decision-makers, operators and the economists who have conducted this meeting, all acknowledge that the crisis is not endogenous to the country and that it affects partially certain sectors to varying degrees.
In view of this situation, vigilance said Mr Boussaid, remains the norm, specifying that the government has taken the necessary measures for the most affected sectors. He has also said that the government has examined all possible scenarios with the aim of getting the appropriate answers to each situation.
The fact of maintaining public investments and the decline in income taxes, combined with a decrease in prices will make it possible to sustain consumption and the citizens' purchasing power, he added.
For his part, Mr Karim El Aynaoui, manager at Al-Maghrib Bank, has pointed out that the good health of the national economy as well as the strength of its essence have allowed Morocco to curb the impact of the crisis.
Over the last few years, the Kingdom has shown the most important growth of its history, the public debt has indicated a decrease in the order of 48% of its GDP, and the currency reserves remain at a very good level, he continued.
He has made it clear that the decline in the prices of raw materials will make it possible to improve the balance of payment, to contain the inflationary trends and to stimulate the demand.
The activities related to foreign demand such as the textile industry, leather craft, real estate property of high quality or the subcontracting are also affected, said Hammad Kassal, vice-president of the General Confederation of Morocco's Enterprises (CGEM).
The Confederation remains, however, “confident” and works in consultation with the government in order to identify the means likely to support the enterprises affected by the crisis and to preserve employment, he emphasized, calling for immediate implementation of the procedures and policies developed for that reason, for the improvement of the world of business and the canvassing
of new opportunities intended for exports.
The same feeling of confidence seems to be shared among the high-level representatives of the national Federations of the BTP, of tourism, of the promotion of real estate property or the aerospace industry who have been pleased about the maintaining of public investment projects in infrastructures, housing; and who have also been satisfied with the urgent measures intended to overcome the crisis in the tourist industry (Cap 2009) and with the evolution of the pole gathering the operators in the field of aerospace industry.
Despite an impact which has been so far stamped out, the crisis remains “a concern of every day” for a great number of operators”, considered Mr Ahmed Laaboudi, analyst at the CMC, who has presented the results of a survey carried out between January and February among a sample of 146 Professional Associations and Chief Executives.
his concern, he said “may be explained by the fact that the profile of the crisis is not yet controlled, and that its temporal and spatial limits are not yet known.
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