Euro fall will not affect Moroccan economy, minister

The fall of Euro will have no effect on Morocco's economy except for some export sectors, said Moroccan economy and finance minister, Fathallah Oualalou.

Oualalou, who was speaking Tuesday at the oral-question time at the chamber of advisers (upper house), said the government is supporting these sectors to overcome the junctural difficulties, adding that half of exports is carried out in dollar and the other half in Euro.

Moroccan exports rose by 3.8% in the first quarter of the current year and tourism receipts posted an increase of 19%, while transfers by Moroccan expatriates increased by 7.2%, the minister said.