Morocco posts better economic performance in 2017

RABAT, Jan. 26 (Xinhua) -- The Moroccan authorities said on Friday that the country's economic growth jumped to 4.6 percent in 2017, up from 1.2 percent in 2016.

Speaking at a press conference on the performance of the Moroccan economy in 2017, Moroccan Minister of Economy and Finance Mohamed Boussaid said the faster growth was achieved on the back of the 15.4 percent gain in the agricultural added value.

Inflation rate slowed to 0.7 percent in 2017 against 1.6 percent in the previous year because of the stable food prices, he noted.

Boussaid said the unemployment rate rose slightly from 10.4 percent to 10.6 percent between 2016 and 2017, after a 1.1-percent hike in the labor force.

The trade deficit, however, widened 2.6 percent despite the 9.3-percent jump in exports, as Morocco's imports, affected by rising energy costs, rose 6.3 percent last year. Enditem