Moroccan economy grew 5.4% in 2009 2Q, HCP

Moroccan economy grew 5.4% in 2009 2Q, HCP
Rabat - The Moroccan economy posted a growth rate of 5.4% in the second quarter of 2009, compared to 6.3% during the same period a year before, the High Planning Commission (HCP) said.

According to figures published by the HCP, the growth is due to the increase of both the agricultural value added volume (+27.8%) and the non-agricultural Gross Domestic Product (+2.1%).

The growth rate of the mining and energy sectors fell short of that registered a year earlier (-9.9% against +3.6%), while processing industries dropped (-0.3% against +4.2%).

Services increased by 3.5% instead of 5.3% in the first quarter of 2008, said the HCP, adding that the GDP rose by 4.9%.