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FINANCIAL NEWS
Morocco’s GDP growth falls to 1.4 percent in Q2
03 Jul 2016
(MENAFN) Morocco’s economic growth declined to 1.4 percent year-on-year in Q2 of this year, dropping from 1.7 percent, due to a severe drought in the agricultural sector.
Moreover, it was predicted that the gross domestic product (GDP) growth will slow more to reach 1.2 percent in the third quarter of the recent year.
Additionally, growth for the USD100bn economy in Q2 of 2015 reached 4.1 percent, whereas agricultural output declined by 12.1 percent.
On the other hand, the rise of payments from the Moroccans living abroad by 4.5 percent and consumer credits helped to increase household spending by 2.4 percent.
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