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2008-06-05

Moroccan economy expected to grow by 6.2% in 2008

Morocco's economy is expected to grow by 6.2% in 2008, Finance Minister Salaheddine Mezouar said on Tuesday (June 3rd). While the forecast is slightly lower than the earlier 6.8% projected growth in GDP Mezouar said "it still remains quite an achievement considering the circumstances". GDP growth in 2007 was only 2.2% due to a poor harvest caused by prolonged periods of drought. Inflation is expected to reach 2.9% in 2008, Mezouar added, due to the rising costs of energy.

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