The Development Report for 2009 and development plan for the year 2010 were presented during the meeting of the Higher Development Council.
Results 2009:
Growth: growth is due to stand around 3% at constant prices, against 4.6 in 2008
Jobs: creation of 57 000 jobs against 77 000 expected.
Investment: investment rate is estimated at 10.6% in 2009 i.e. 13,842 md, amounting to 25.9% of GDP. The private sector share is estimated at 57, 6% of total investments.
Volume of foreign investment: about 2100 md in 2009, against 2400 md expected.
Trade: exports down 17.1% in 2009, against a decline in imports of 13.1%..Coverage rate is estimated at 74.6%, against 78.2% in 2008.
Limiting the current account deficit of trade balance to around 3% of GDP in 2009 against 4.3% in 2008.
Improvement of the European Union catch-up index is estimated at 26.2% in 2009 against 25.6% in 2008.
Financing of the economy: the financing of the economy is based mainly on improving the mobilization of national savings whose share has reached 69.5% of total funding needs, against 68% in 2008.
External financing: the resources of external funding will reach 5443.8 md. They include the mobilization of 2,100 md taking into account the impact of the global financial crisis.
Debt down 41.5% of GDP, against 42.6% in 2008. The debt service will reach 11.4% of current revenues.
Prices: price index around 3.5%.
Development plan for 2010
The development plan for 2010 is based on a growth rate of 4% against 3% in 2009 aiming at increasing the share of national savings in GDP to 23.3%, raising the investment rate by 10% i.e. 15,226 md (26.5% of GDP), increasing exports and imports at respective rates of 8.2% and 8.8%, increasing the coverage rate to 74.4% and maintaining the current account deficit within 3% of GDP.
Regarding external financing, the loan resources are estimated at 4771.6 MD. Priority will be given to donations and public aid .for the second year in a row, the government will not have recourse to the private international financial market.
The amount of FDI to be mobilized is estimated for 2010 at 2400 Md. The outstanding debt will be reduced to 39.5% of GDP while the debt service will be maintained within the limits of 9, 6% of current revenues.
Regarding the state budget, it includes an amount of 18,335 MD (+5.4%), or 31.8% of GDP. These expenditures will cover the debt service amounting to 3640 md and management spending, i.e. 8595 MDT, 80% of them will be devoted to salaries and recruitment of 16,200 new agents. Regarding subsidizing, the budget includes an allocation of 1,500 MTD.
Other projections: In 2010, inflation will be around 3.3% and 83% of additional demands will be met
