Morocco eyes 10.3 percent growth rate in 2001, center says
Morocco, Economics, 2/15/2001

After two years of stagnation, Morocco will post a 10 percent growth rate in 2001, predicted the Moroccan Juncture Center (CMC, an independent think tank studying economic trends).

"Thanks to a relatively abundant rain," the agricultural value-added will grow by 39 percent, CMC director, Ahmed Laboudi told the press Tuesday in Casablanca.

Morocco was hit by two successive years of drought that adversely impacted the growth of the Gross Domestic Product (GDP). Agriculture is a determinant factor in Morocco's economy, contributing 20 percent to GDP and employing half of a 10-million workforce.

According to CMC, the 10.3 percent growth will be posted thanks to abundant rain, the privatization of part of the phone operator Maroc-telecom, the decrease in oil prices and the improvement in the parity between the US dollar and the Euro.

Morocco sold last December 35% of Maroc-Telecom capital to French group "Vivendi Universal" for $ 2.33 billion (23.34 billion DH).

CMC explained that the growth will stand at 8.5 percent plus 1.8 percent to be generated from investments conducted by the Hassan II Fund for Economic and Social Development.

The fund operates mainly in low-cost housing, road construction and drinking water.

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