Qatar signs aid deal worth $1.25bn for Morocco - Daily News Egypt
▻http://www.dailynewsegypt.com/2013/12/29/qatar-signs-aid-deal-worth-1-25bn-for-morocco
Qatar and Morocco have signed an aid deal worth $1.25bn, part of a five-year package of financial assistance extended by wealthy Gulf states to the North African kingdom to help it weather ‘Arab Spring’ protests.
Four Gulf states – Qatar, Saudi Arabia, Kuwait and the United Arab Emirates – agreed in 2012 to provide aid worth a total $5bn to Morocco in the period 2012-2017 to build up its infrastructure, strengthen its economy and foster tourism.
Each of the four countries has committed $1.25 billion to Morocco for the whole five year period.
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Morocco is under heavy pressure from international lenders to reduce its budget deficit after spending heavily on food and energy subsidies and higher public sector salaries in 2011 and 2012 to help defuse social tensions.