It seems that the decline in oil prices, which lost more than 50 percent of its value since September of last year, after prices approached their lowest level during the last 6 years, will not carry the economic omens without negative factors, where the International Monetary Fund cut its forecast for the growth of the Moroccan economy in 2015 to 3.3 percent, rather than expectations of 3.9 disclosed during the month of October last, increase the growth rate of 3.9 percent for the year 2016 instead of 4.4 percent. He revealed the International Monetary Fund, in a report, "World Economic Outlook", a reduction of global economic growth to 3.5 percent and 3.7 percent 2015 and 2016, respectively, after a previous forecast estimated growth of 3.8 percent and 4 percent, which is the same expectations that have already been made within a similar report last October. The International Fund report issued by Beijing that cut forecasts for global economic growth came to reflect the reduced growth prospects in China, Russia and the Euro and Japan as well as the weak economic activity in a number of major oil-exporting countries because of the sharp drop in global oil prices, pointing out that the United States is the economy main the only one who was raised outlook. Fund pointed out that there are four major developments formed the global economic outlook, since last October, the last version of the Fund's projections about the prospects for the global economy, reflected first in lower oil prices by about 55 percent since last September, and the second, in contrast remarkable growth rates among major economies, increase the actual rise in the US dollar in real terms 6% since October 2014 due to the significant variation in the growth of major economies, while that on the contrary, the euro and the Japanese yen fell 2 and 8 percent respectively since October Many of the currencies of emerging markets, especially in countries exporting commodities like oil, wheat and metals also fell. And increased with the report, the fourth factor represented in higher interest rates as well as the risk spread in many emerging economies, particularly among countries exporting primary commodities, as well as the breadth of risk due to high-yield bonds, and other financial products such as stocks and contracts related to energy prices. On the other hand, you see the same modern document, that the factors that may lead to raise expectations for global growth, is in receipt of the global economy the largest batch due to lower oil prices and despite the fact that there are doubts about the continuation of the phenomenon of increased supply, pointing out that the risk of lowering expectations is to change investor sentiment, and the vagaries of the world, especially in emerging economies, financial markets, where the decline in oil prices led to impact negatively on the budget and external balance of a number of oil-exporting countries. As well as fears of inflation Euro area