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Morocco: Economic growth around 4% in 2010 and 4.3% in 2011

Saturday, 04 September 2010 00:07

Morocco: Economic growth to stand at 4% in 2010 and 4.3% in 2011

Morocco (Rabat) - The state Planning Commission (HCP) has prepared its exploratory economic budget that presents a review of the national economic growth in 2010 and prospects for 2011.

According to its forecasts, the growth rate would stand at 4% in 2010 and 4.3% in 2011.

The 2010 growth rate is attributed to the decline in the value added of primary sector by 7.5% compared to 2009, which was marked by a strong growth of 29%.

The HCP added that the gross non-farm product would grow by 5.9% in 2010 compared to 1.3% in 2009.

National savings are forecast to improve slightly in 2010, said the HCP, adding that the savings rate will reach 31.5% instead of 31% in 2009.

As to the national economic growth in the year 2011, it is attributed to an increase of 5.4% of non-agricultural GDP, according to the same source.

Regarding foreign trade, exports of goods and services would rise by 6.6% in 2011 due to the consolidation of world demand addressed to Morocco.

Despite the improvement in net income from the rest of the world, from 6.7% of GDP in 2010 to 7.6% in 2011, the national saving rate will increase only slightly, to stand at 31.7% of GDP in 2011, said the HCP.
(MAP)

Global Arab Network

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Last Updated on Saturday, 04 September 2010 00:14

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