Growth expected in Moroccan economy
Morocco's economy is expected to grow by just over 4% in the next year, according to the High Planning Commissioner Ahmed Lahlimi Alami.
The latest estimate is for the economy to grow by 4.1%, which is higher than the 3.2% predicted by the International Monetary fund. Morocco's economy relies highly on the tourism sector which is also expected to grow this year.
When Morocco joined the Middle East and North Africa (MENA) region in 2009, the prime minister Abbas El Fassi said it would increase the country's attractiveness to foreign investors. He noted that the 6% growth in gross domestic product in the MENA region was one of the highest levels in the world.
According to Commissioner Alami, while growth in the country's agricultural industries is expected to decline, it is expected that foreign demand will drive up to the profitability of other sectors. Inflation is also expected to remain low.
The International Monetary Fund have previously praised the Moroccan authorities response to the global economic crisis, stating that it was 'appropriate'.
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