Morocco to post 1.2% growth rate in 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.