Rabat – Morocco’s GDP has grown by 4.8% in the third quarter of 2011, according to Morocco’s central bank Banka Al Maghrib.
The bank explained in its monthly bulletin on economic, monetary and financial conditions that this rise reflects the good orientation of agricultural activities and an increase in non-agricultural GDP from 4.1% to 4.9%.
The bank also said that the budget deficit stood, up to end November 2011, at 42.2 billion dirhams, up 11.1 billion dirhams from the same period a year earlier.
It ascribed this deficit to the acceleration of subsidies, whose rate was largely quicker than that of receipts.
