Morocco to issue 1.5-bln-USD int'l bond in Nov.
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E-mail Xinhua, October 23, 2019
RABAT, Oct. 22 (Xinhua) -- Morocco will issue an international bond worth 1.5 billion U.S. dollars in November, Minister of Finance Mohamed Benchaaboun announced Tuesday.
The amount corresponds to the ceiling authorized annually by the Moroccan parliament, Benchaaboun told a press conference on the Appropriation Bill 2020.
"We have set this deadline to benefit from the best rates on the market," the minister added.
The Appropriation Bill 2020 targets a growth rate of 3.7 percent of Morocco's economy in 2020, based on the assumption of a cereal harvest of 7 million tons and an average oil price of 67 dollars per barrel.
The fiscal deficit will not exceed 3.5 percent of the GDP in 2020, according to the minister.
The bill also aims to create 20,000 jobs mainly in education, security and health sectors. Enditem
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