Morocco’s GDPup 3.8pc in Q3

Rabat

Morocco’s economy grew 3.8 percent in the third quarter of this year, after a slow growth of 1.3 percent in the same period last year, the official High Commission for Planning (HCP) said on Saturday. The planning commission said that this growth was mainly due to the rise in agricultural output by 14.5 percent in the third quarter, a sharp jump from a 13.6 percent drop last year. The Moroccan economy was hit hard by a severe drought in the autumn of 2015, which affected the 2016 agricultural production. Due to heavy rainfall in late 2016, the economy has greatly improved this year. Industry turnover also grew by 2.7 percent compared with 0.8 percent the year before, while services sector slowed down this year from 3.1 percent to 2.6 percent. According to the Morocco’s central bank, the country’s economy is expected to surge by 4.1 percent in 2017 after a slow growth of 1.2 percent in 2016.—APP

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