DUBAI, April 2 Morocco's government expects to
decide in June or July whether to issue a conventional bond or a
sukuk (Islamic bond) in the international market to help finance
its budget deficit this year, the finance minister said on
"We will have an idea in June or July, something like that.
We are working on it now," Nizar Baraka told reporters at a
meeting of Arab finance ministers and central bankers in Dubai.
Baraka predicted the budget deficit would be between 5 and
5.5 percent of gross domestic product this year, down from 7
percent in 2012.
The budget assumes economic growth of 4.5 percent this year
but the outlook will become clearer at the end of April when the
state of agricultural production is known, he said.
"I think it will be closer to 5 percent than 4 percent,"
compared to an estimated 2.4 percent last year, he said.
The government plans to hold a major discussion on tax
policy at the end of this month, examining how to make taxation
more equitable while covering the informal sector of the
economy, Baraka added without giving details.