FINANCIAL NEWS

Morocco’s economic growth slump to 0.5pct

02 Oct 2016

(MENAFN) Morocco’s economic growth slumped to 0.5 percent year-on-year in the second quarter of this year from 4.2 percent in the same period of last year.However, agricultural output dropped by 10.9 percent, while it is expected that Moroccan GDP growth to slow to 1.2 percent in the third quarter of this year.Meanwhile, the cereal crop in this year had declined to 3.35mn tons, down by 70 percent from last season”s record of 11mn tons.On the other hand, growth for the USD100bn economy in the first quarter of this year reached 1.7 percent.

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