Morocco’s Economy Escalates 4.4% in First Quarter

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The Moroccan economy put up a 4.4% annual increase in the first quarter of 2015 on the setting of optimistic precipitation and shows potential crop year, according to the High commission for Planning (HCP).

Morocco’s Economy Escalates 4.4% in First Quarter

Morocco’s Economy Escalates 4.4% in First Quarter

This development was principally attributed to a 12.3% surge in agricultural added value in its figure for the first quarter of 2015.

The precipitation during the first five months of the 2014-2015 bestowed promising forecasts for an outstanding crop year with hope to arrive at production development expected at 8.8% for cereals, 4.2% for vegetables and 3.2% for fodder.

Non-agricultural activities followed the same increasing drift with a 3.2% annual upsurge taken typically by the tertiary division apart from tourism.

The HCP remarks that transport, communication and trade establish the most vibrant gears of the tertiary division accounting for 1.1% of the total economic development in the first quarter of 2015.

In terms of non-refinery industries, a 2.4% upsurge was recorded in combination with mounting foreign demand remarkably for cars, fish, canned vegetables and clothing.

Structure works increased 1.4% generating a minor 0.8% gain in cement transactions.

Mohamed Dekkak