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Morocco GDP growth slows to 2.8pc in Q4

Rabat, January 24, 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
 

 




Tags: Morocco | GDP | growth |

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