Rabat – Economy and Finance Minister Nizar Baraka said, on Friday, that the impact of drought on growth was reduced compared to the last decade.
Baraka said that during the drought years of 2005 and 2007, Morocco posted positive growth rate compared to the drought years of 1995, 1997 and 1999.
Speaking to MPs at the lower house on the 2012 appropriation bill, Baraka said that the contribution of cereals in generating agricultural added value stood at 1/5 during the last decade, added that currently cereals contributed by 18%, thanks to the development of other cultures that are less impacted by drought.
He said that the growth of Morocco’s economy reached 4.2 in the 2007-2010 period against 3.8 over 1999-2005 and 3.2 over 1990-198.
Baraka noted that during the last ten years the services sector of services grew to account for 56% of Morocco’s economy, while industry represents 28%.
The Minister also highlighted the positive contribution of domestic demand and the increase of public investments, which increased from 83.9 to 188 billion dirhams over 2007-2012.
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