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Morocco to post 1.2% growth rate in 2000
Morocco, Economics, 4/14/2000
Morocco will post a 1.2% growth rate in 2000 against an initially-expected 8%, the Moroccan Centre de Conjoncture (CMC) said.
The slump is imputed to the severe drought hitting Morocco for the second consecutive year, the CMC, a panel of independent economists, said.
The center noted that the growth rate, without taking agriculture into account, will stand at 4.5% in 2000 against 3.7% in 1999.
According to CMC, drought will adversely impact all other sectors, especially employment and household incomes.
Agriculture contributes 20% to Morocco's Gross Domestic Product and employs half of a 10-million workforce.
In order to curb down the side-effects of the rainfall shortage, the government devised recently a $655 million program, revolving mainly on job generation and water supply in rural areas.
Previous Stories:
King Mohammed calls for solidarity with rural world
(4/4/2000)
Banks called to contribute in job creation in rural areas
(4/1/2000)
Morocco projects 3% growth rate in 2000
(3/30/2000)
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