Morocco's economy grows 4.2 pct in 2nd quarter

Source: Xinhua| 2017-09-30 05:51:36|Editor: yan
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RABAT, Sept. 29 (Xinhua) -- Morocco's economy grew 4.2 percent in the second quarter of this year, a sharp rise from 1 percent in the same period last year, the official High Commission for Planning said on Friday.

The commission said in a note on the Moroccan economy that this growth was mainly due to the rise in agricultural output by 17.5 percent in the second quarter.

Apart from the agriculture sector, which accounts for more than 15 percent of the country's economy, the non-agricultural sector grew 2.8 percent, up from 1.7 percent a year ago, the commission added.

During the same period, the industry grew 3.6 percent after stagnation in the second quarter of 2016, while services grew by 2.6 percent in the second quarter, slightly up from last year's 2.5 percent.

According to the central bank, Morocco's economy would jump to 4.3 percent this year from an estimated 1.2 percent in 2016.

The Moroccan economy was hit hard by the worst drought in decades in 2015, which compromised the 2016 agricultural production and the whole economy.