Positive Expectations for Moroccan Economy

The Moroccan Center for Economic Affairs stated that it expects positive results from the performance of the economy. It expected that the national gross product's growth will reach 6.7% in 1998 compared to a negative growth rate of 2.5% in 1997.

The Center's spokesman mentioned that those expectations stem from the fact that agricultural production will be increasing, they are expected to be 6.6 million tons of grains compared to 3.5 million tons in 1996/1997.

The Moroccan national gross product achieved an unprecedented growth in 1996 as it reached 11.8% as a result of the excellent agricultural crops which included 10 million tons of grains. This was reflected positively by the economy and national savings.

During the current year, the crops decreased, which reflected negatively on the treasury and other sectors related to agriculture.

Morocco is expected to import about 2.5 million tons of grains between August 1997 and May 1998 which will cost between $400 million and $500 million due to the rise in the dollar exchange rate.