Go Morocco Forums

MrRight

Rabat - 04/06/2009
The High Planning Commission (HCP) said the national economy growth rate has reached 5.4 % in 2008, on good agricultural performance, up from 2.7 a year earlier.

"The results of the national economic accounts relating to the four quarters of 2008 show that the economy would achieve an annual economic growth of 5.4% against 2.7% in 2007," the Rabat-based HCP said Monday in a statement.

The value added of agricultural activities grew 11%, HCP said, while non-agricultural activities slowed to 4.7 % from 6% a year before.

It said net taxes on subsidized products dropped to 5.7% against 10.6% in 2007.

The north African country's non-agricultural GDP has dropped to 4.7 % in 2008 instead of 6.6 % in 2007, on the shrinking secondary and service sectors, HCP said. The two sectors fell to 3.2% from 6.6%, and to 5% from 6.1%, respectively.

The overall GDP has registered in 2008 a 7.8% increase, up 2.3% from 2007, the HCP said. It noted that these results may undergo some modifications after the submission of the annual accounts next June.