Morocco set for economic growth

Government officials in Morocco have forecast economic growth of 6.6% for the first quarter of 2009.

According to a statement released by the High Planning Commission (HCP) in Rabat on Tuesday (January 20th), increased income from agriculture is expected to offset the negative effects of the global slowdown during the early stages of the year.

The HCP said that Morocco's economy expanded by approximately 4.8% in the final quarter of 2008, with overall growth for the year estimated at 5.8%, Reuters reports.

Due to a significant increase in rainfall last year, the authority said that farming GDP could rise by 22% during the first quarter.

However, the HCP's statement also sounded a note of caution over the global economic situation.

"National economic activity is likely to evolve in a context marked by uncertainty over the scale of repercussions from the international financial crisis," it said.

John Howell of the International Law Partnership recently selected Morocco as one of his top ten property investment destinations for 2009.

Visit our off-plan property Morocco page.
 

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