Morocco GDP growth slows to 2.8pc in Q4
Rabat, January 23, 2013
Morocco's economic growth slowed to a real, seasonally adjusted 2.8 percent year-on-year in the last quarter of 2012, from 2.9 percent in the third quarter, the country's planning agency said.
The economy was hit by a 9.2 percent drop in agricultural production during the past quarter, as the country suffered a drought.
However, GDP growth is expected to pick up to about 4.5 percent in the first quarter of this year because of a budding pick-up in external demand and the start of a recovery in the agricultural sector, the agency said late on Tuesday.
Agricultural production is forecast to rise 5.9 percent in the first quarter as rainfall is improving. – Reuters
More Finance & Capital Market Stories
- Dubai ICD planning to boost $2bn loan
- CEO-elect of fraud-hit Rakbank quits
- Saudi foreign assets hit record $668.2bn
- Major trade success for BBK Brokerage
- NBAD raises convertible bond issue to $465m
- Mashreq to enhance mobile banking app
- NBK Capital exits Turkey hospital chain
- Abu Dhabi holding firm Senaat plans share sale
- Iraq Trade Bank to expand into Lebanon, Turkey
- UAE’s non-oil job, output levels surge
