RABAT, June 30 (Reuters) – Morocco’s economy expanded by 4.8% during the first quarter of this year, compared to 3% in the same period last year, according to the national statistics agency HCP.
This growth was primarily fueled by improvements in the agricultural and industrial sectors, which saw increases of 4.6% and 4.5%, respectively, as stated in a report by HCP.
Additionally, the report noted that domestic demand rose by 8% in the first three months of the year, up from 4% in the previous year, compensating for the negative impact of foreign trade on economic growth.
Reporting by Ahmed Eljechtimi; Editing by Alison Williams
— news from Reuters