After all, the financial crisis is good for us :)

[L9ant]

Today, oil prices fell sharply to 17-month lows at $63 a barrel, far from its all-time high at $147 on last July. This is a direct outcome of the major international economic slowdown and fears of a great recession.

Well, I think this is good news for moroccan governement, who always said that its budget is saddled with the huge price of oil, which refrain it from investing in infrastructures, rising payrolls or dwindling the price of basic needs such as gasoline.

Correct me if I'm dead-wrong !

[RedEye]

so u think that our governmenet will lower the prices??
come and "3ekar" me when they do !!

[L9ant]

	Citation:			Posté par RedEye
	so u think that our governmenet will lower the prices?? come and "3ekar" me when they do !!

I have no idea if it will, but flately, it should do on the basis of what we've seen earlier !!!

[RedEye]

well u said it yourself: "it should"..

but the reality is unknown mystery..

[Kayten]

	Citation:			Posté par RedEye
	so u think that our governmenet will lower the prices?? come and "3ekar" me when they do !!

I think you're right, prices of raw materials and oil are more and more lower on the international markets, but our governmenet didn't change anything...


The financial crisis has allready started to impact our economy, OCP doesn't sell Phosphates anymore, the industrial groups need financial resources since their banks went down, they have nothing to pay their supplies and purchases.

When a huge institut like OCP is not selling anymore, that means really serious problems to the Stat : no money to make compensation of basic materials prices, no money to pay debts, no money to pay officials employee... and more bad things.

So i think that we have to review situation again before saying that the "crisis" is good thing for us.

Thank you L9ant for the topic, really interesting.

[alexander]

	Citation:			Posté par L9ant
	I have no idea if it will, but flately, it should do on the basis of what we've seen earlier !!!

they can't!

the price that a citizen pay for all kinds of energy is much lower than the real one. the state pay the difference. so if the baril price fall, it will just cover what the state loose.

that may help the budget, but on the other side, the tourism is loosing too. also the exportations of phostphat and the transfert of moroccans. so the lost due to the crisis may still be higher than what we won. and anyway the state can't lower the prices.

[Kayten]

yes, absolutly Alex, you're right,

[L9ant]

As far as I know, no moroccan bank neither casa stock market suffered the way financial institute abroad have : mortgages are increasing as usual, loans aren't very hard to come by, not heard about rising rate of foreclosures so far...

so let's say, for the moment, that morocco is a bit away from this crisis.

[L9ant]

Economy minister Mezouar said the we have to adapt ourselves to the crisis for better benefit :

- “There are 900 million tourists around the world, their number is expected to grow by 4% in 2009 and they should go somewhere. It’s up to us to attract them”

- “Anxious international funds have to be invested somewhere. It’s up to Morocco to draw them here at home”

- “Moroccans abroad can send much money as well as they did before for safety reasons”

Do you agree in some way with those explications ?

[alexander]

	Citation:			Posté par L9ant
	- “Moroccans abroad can send much money as well as they did before for safety reasons” Do you agree in some way with those explications ?

i agree a little with this one. because Morocco is safe and so they should feel more secure when their money is in bled. But the problem is how much money are they gonna make man!!! people are loosing jobs, and consequently, moroccans aboard gonna suffer from this situation just like any resident in USA or Europe.

of course we should not make it look like tragedy. And morocco is safer than most other states.

for tourism, morocco can be a cheap destination comparing to others but still there is a lot of other destinations all over the world. if the crisis continue, it's clear that we can't make the 10 millions in 2010.