"With a growth rate of 6 percent, we are aiming at increasing the per capita income by 40 percent, and will do in the coming five years as well as we did in the past decade," the report quoted Minister of Economy and Finance Salaheddine Mezouar as saying.
The North African country's economy has suffered a lot from the global price surge of oil and raw materials which drove the country to the edge of social instability.
As raw material prices are rising, the country's compensation system cannot be maintained and would fail to profit grassroots, said the minister, adding that the government is considering direct assistance to these people.
Morocco conducts a compensation fund through which the government supports raw materials which have different domestic price and global price. Due to the unprecedented price hike in international market, experts warns the fund will run out by August 2008.
Though the government has increased the funds by earmarking some 5 billion U.S. dollars, up from 2.7 billion dollars set for 2008 financial year, the fund still risks bankruptcy, according to experts.
In addition, the government is to carry out a series new policies to avoid the negative impact of imports, including boosting local production and creating new economic centers in the different cities specializing in outsourcing, port activities, tourism, mining, advanced technologies and agribusiness, he added.
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