Moroccan economy expected to post 6.1 percent growth in 2002

Moroccan economy is expected to post a 6.1 percent growth in 2002, according to forecasts made public Monday by "le Centre Marocain de Conjoncture" (CMC).

For this Moroccan think-tank, 2002 might mark a turning point and the start of a sustained growth cycle in case a genuine revival policy is initiated to match the favorable economic juncture expected during the year.

CMC Experts analyzed at a news conference here Monday the current economic juncture and the outstanding trends of 2001 and 2002 predicting a revival of the country's economy. They explained that this revival will be made possible mainly thanks to the program of struggle against drought worth 7.5 billion DH (about $652.17 million) and to a program, which is meant to give momentum to the economy and which is financed by the Hassan II fund. This program is worth 7 billion DH (nearly $ 608.69 million).

The experts also said the trade deficit which seriously worsened in 2001 will be curbed in 2002 thanks to the improvement of exports of agricultural products and of phosphates and phosphates by-products. In 2002, exports are expected to score a 7.8 percent increase while imports will progress by 6 percent, the CCM experts said.