Draft budget presented
Finance Minister Abdellatif Benachenhou presented the government's draft 2004 budget to parliament on 2 November, predicting a 17 per cent increase in the deficit to AD 392,000 million ($5,200 million). Benachenhou said that the widening of the deficit was primarily caused by the need for increased social expenditure and reconstruction following May's devastating earthquake. Revenues, based on an oil price of $19 a barrel, are estimated at AD 1,920,000 million ($25,000 million), and ...
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