Arab Today, arab today morocco\s economic growth slows to 22
Last Updated : GMT 21:09:51
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Morocco\'s economic growth slows to 2.2%

Arab Today, arab today

Arab Today, arab today Morocco\'s economic growth slows to 2.2%

London - Arabstoday

Morocco\'s economic growth in the first quarter of the year slowed to 2.2 percent compared to 4.7 percent during the final quarter of last year, on lower agricultural output because of a shortfall in rain, the continuing effects of economic and financial crisis in the euro zone area, and a decline in tourist revenue and foreign investment flows, Al Hayat reported. Agricultural production fell 11.7 percent, while industrial output fell to 2.8 percent from 5 percent as a result of a decline in Moroccan exports of garments, mechanical and electronic goods to European markets, Morocco\'s main trading partners, the newspaper reported. The tourism industry contributed 1.6 percent less to the economy, according to the newspaper. Household consumption fell to 1.9 percent as a result of lower agricultural production and an increase in unemployment to 10 percent from about 9 percent a year ago.

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