Moroccan economy grew 4.8% in Q1
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FILE PHOTO: A general view shows the ancient city of Fez, Morocco October 17, 2021. Picture taken October 17, 2021. REUTERS/Shereen Talaat/File Photo
RABAT (Reuters) -Morocco's economy grew 4.8% in the first quarter this year, compared with 3% the same period last year, the national statistics agency HCP said.
The growth was driven by an improvement in farming and industrial activities, which grew 4.6% and 4.5% respectively, HCP said in a report.
Growth was also supported by an 8% increase in domestic demand in the first three months this year, from 4% the same period last year, offsetting a negative contribution of foreign trade to economic growth, it said.
(Reporting by Ahmed Eljechtimi; Editing by Alison Williams)
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