436. However, this performance in terms of growth remains below the target set in
the accelerated scenario for the year 2014, i.e. 6.6%. It is equally important to
emphasize that in 2014 economic growth had just returned to its level indicated in the
SCAPE baseline scenario.
Chart No.11: Public Investment rate Chart No. 12: Real Public Investment
Growth Rate
Overall investment rate
Real growth rate
Scénario de référence
Scénario de référence
Situation actuelle
6
Situation actuelle
30
5.8
20
5.6
5.4
10
5.2
0
5
2012
2013
2014
2011
2013
2014
2.5- Investment:
437. In 2014, the overall investment rate was 22.7% as against 24.0% in 2013. In
spite of this deceleration, the investment rate remains above the target set in the
baseline scenario but below the target of 23.4% in the accelerated scenario. The
decline in the overall investment rate results from the contraction of private
investments, which dropped from 15.3% in 2013 to 14.1% in 2014.
438. The trend of the overall investment rate over the last two years is slightly above
the trend of the SCAPE baseline scenario. Thus, the trend of the overall investment
rate and the rate of economic growth, compared to the SCAPE scenarios, show that
the implementation is not yet up to the targets set in the accelerated growth scenario.
2. National Agricultural Investment and Food Security Programme
(PNIASA)
439. This programme has an operational plan that was adopted on 30 July 2009 and
an investment plan on 4 February 2010, providing a hierarchical framework for
action to be taken in the agricultural sector to achieve the objectives of reducing
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