Rabat – Morocco's economy is expected to grow below 2 percent in 2016, crippled by the agricultural value added, Economy and Finance Minister, Mohamed Boussaid, said Monday.
Rabat – Morocco’s economy is expected to grow below 2 percent in 2016, crippled by the agricultural value added, Economy and Finance Minister, Mohamed Boussaid, said Monday.
“On the basis of cereal production forecast of 33.5 million quintals, agricultural value added will decline by 7.3 percent compared to 2015, which will impact growth rate,” Boussaid pointed out at a press conference of an international symposium on emerging countries, held on June 2-3 in Skhirat (outskirts of Rabat).
Apart from cereals, the agricultural season has shown good performance, particularly for fruit cultivation that grows by 15 percent, industrial crops (+5 percent) and vegetable crops (5 percent), said Boussaid.
Tourism activity also increased by 6.6 percent in terms of revenue, despite a slight drop in arrivals (-0.5 percent) and overnight stays (-0.9 percent) in the first quarter of 2016 compared to the same period last year, he noted.
On the other hand, he said, Revenues of Moroccans living abroad reached in late April 19.4 billion dirhams, against 18.7 billion dirhams a year earlier, that is an increase of 4 percent.