Moroccan economy poised to score steady growth in 2002, minister

Moroccan economy is poised to score a relatively steady growth in 2002, for the second consecutive year, minister of economy, finance, tourism and privatization, Fathallah OUlaalou, said Wednesday.

Morocco's GDP growth should stand at around 4.5% in 2002, compared to 6.5% in 2001, Oulaalou told the press at a briefing on the country's economic juncture.

According to the minister, the favourable evolution is due to the average results scored by the agricultural campaign and the satisfactory progress of the sectors of construction and public works, energy, transport, communication and trade.

The tourism sector is affected by the drop in world demand, he said adding that tourism returns during first half of 2002 amounted to 9 billion DH (nearly US $ 857.14 million), scoring an increase of 10 percent compared to the average scored during the past five years.