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Morocco Economy Grows by 4.3%

Morocco Economy Grows by 4.3%Morocco Economy Grows by 4.3%

Morocco’s economy grew by 4.3% in the first quarter of this year compared with 1.7% in the same period a year earlier, the high commission for planning said on Thursday, Xinhua reported. The commission said in a note on the Moroccan economy that this growth was mainly due to the rise in agricultural output by 12.9% in the first quarter this year, up from 9% last year. Apart from the agriculture sector, which accounts for more than 15% of the country’s economy, the non-agricultural sector grew 3% in the first quarter from a year ago, the commission added. As for the second quarter of 2017, the official planning agency expects the economy to grow 4.6% in compared to 1.2% in the fourth quarter of 2016. The Moroccan economy has been hit hard by a drought in the fall of 2015, which compromised the 2016 agriculture production.

 

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