Morocco’s Economy to increase 3.5% in 2014

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Rabat: The Minister of Economy and Finance, Mohamed Boussaid stated that Morocco’ economy will grow by 3.5%.

Morocco’s Economy to increase 3.5% in 2014

Morocco’s Economy to increase 3.5% in 2014

Regardless of weakening in agricultural value-added, all activity divisions not including agriculture enlarged in the first half of 2014, remarkably the automotive industry, textile, electronics and aviation, Boussaid averred.

In the tourism division, tourist arrivals increased by 8.8%, tourist nights by 9.6% and tourism profits by 3.6% in the first six months of 2014.

Regarding the foreign trade, exports increased by 7.4%, while imports rose by 4.7% in the first half of 2014 compared to the same period in 2013. Boussaid said, noting that the rate of coverage of imports by exports increased to 49.6%.

For their part, the profits of Moroccans living abroad lessened by 0.4%, he also averred, noting that foreign exchange reserves exceeded in more than 5 months in 2013.

Mohamed Dekkak