- The Moroccan economy has achieved a growth rate of 5.4 percent in 2009, despite the international financial crisis, compared to 5.7 percent in 2008, according to the latest forecast from the African Development Bank (AfDB).
The AfDB in its report on economic prospects in Africa in 2008-2009, said despite the crisis, the Moroccan economy registered a positive growth rate.
According to AfDB, good rainfall, the accuracy of the financial sector and sectoral development programmes in progress would allow the Moroccan economy to overcome the effects of the international crisis, although the recession has hit its main trading partners.
"It provides a slight downturn in growth in 2009, with a rate of 5.4 percent which should be maintained during the next year," the report said.
However, according to the report, exports, foreign direct investment, remittances from migrants and tourism sectors are likely to be affected by the global economic meltdown.
The AfDB said that 2008 marked the return of the rains and a national average rainfall accumulated five times higher than normal, reversing the possible drought trends and fostering a new dynamic value of the agricultural sector, which increased by 12.8 percent in 2008.
The bank also added that growth in the energy sector continued, and that the sector of construction, which continued its steady progression, also played a major role on economic growth despite the crisis.
The ADB further noted that domestic demand continues to play its role as the engine of growth in Morocco, supported by the positive outcome of the primary sector of employment with an unemployment rate below the threshold of 10 percent.
The bank also said the Moroccan tourism sector outlook for 2009 remained generally favorable with the creation of resorts planned for the development of internal tourism.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.
front page
| news
| countries
| archive
| currencies
| news alerts login
| about afrol News
| contact
| advertise
| español