Morocco GDP growth to ease in Q3 -- planners

Ahram Online, Wednesday 2 Nov 2011

The slowdown in the country's mining and and tourism sectors contributed to the overall drop in growth of the economy

Morocco's economic growth likely slowed to 4.1 per cent annual rate in the third quarter, below the full year target after a slowdown in mining and tourism, the country's planning authority said on Wednesday.

"This slight slowdown has stemmed mainly from declines in the growth rates of non-agricultural (sectors)," the High Planning Commission (HCP) said in a report.

After growing by 4 per cent to around $95 billion in 2010, Morocco's gross domestic product grew 5 per cent during the first quarter of this year and 4.2 per cent in the second, according to the central bank.

The finance ministry forecasts 5 per cent for all of 2011.

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