Moroccan economy grows despite crisis

Business News

May 12, 2009, 13:27 GMT

Rabat, Morocco - Morocco's economy will grow 5.4 per cent this year despite the international economic crisis, Moroccan media Tuesday quoted the African Development Bank (AfDB) as saying. The growth was slightly lower than in 2008, when it amounted to 5.7 per cent, the AfDB said in a report on African economic perspectives for 2009. The Moroccan government earlier estimated this year's growth at 5.7 per cent. The growth is seen as being based on a good harvest, government investments in infrastructure and increasing consumption.

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