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Moroccan economy picks up with better crops harvest

Xinhua, July 13, 2016 Adjust font size:

Moroccan economy is expected to grow by 1.2 percent in 2016, local media reported on Wednesday.

Citing the latest report of the Moroccan High Commission for Planning (HCP), financial daily l' Economiste said that economic growth is forecast to stand 0.2 percent higher than the forecast made earlier this year.

This revision was driven especially by the expectation of a better agricultural production, except for cereals, and of a revision of the contraction of the agricultural value added at 9 percent, the same source added.

In 2017, assuming an average crop year, HCP expects growth to accelerate to 3.5 percent, with increases by nearly 10 percent in agricultural value added and over 2.6 percent in nonagricultural GDP, it noted. Endit