Moroccan predicts 5% growth

Morocco’s economy grew 2.7% in 2012 Rabat - Manal Wahbi Morocco looks set to enjoy a four to five percent boost in gross domestic product (GDP) growth this year, according to governor of Morocco’s central bank, Abdellatif Jouahri. Increases in agricultural production had contributed to the landmark economic figures, Jouahri said, speaking at a press conference following meetings with bank board members on Wednesday. The governor claimed he was “hopeful” about Morroco’s economic prospects, predicting 4.5% growth in sectors outside agriculture. The country’s economy grew by 2.7% in 2012 and 5.5% in 2011 respectively. Moroccan financial officials are looking to cut a high deficit caused by increases in expenditure on civil service wages. The economy is currently being supported by $16bn in foreign currency reserves.