Rabat- Morocco' economy will grow by 3.5 percent this year, Economy and Finance minister, Mohamed Boussaid, announced Thursday in Rabat.
Despite a decline in agricultural value-added, all activity sectors excluding agriculture increased in the first half of 2014, notably the automotive industry, aviation, textile and electronics, Boussaid said before the cabinet meeting.
In the tourism sector, tourist arrivals increased by 8.8, tourist nights by 9.6 pc and tourism revenues by 3.6 pc in the first six months of 2014, he noted, adding that inflation has been under control during this period.
Concerning foreign trade, exports augmented by 7.4 pc, while imports rose by 4.7 pc in the first half of 2014 compared to the same period in 2013, said Boussaid, noting that the rate of coverage of imports by exports rose to 49.6 pc.
For their part, the revenues of Moroccans living abroad decreased by 0.4 pc, he said, noting that foreign exchange reserves surpassed 5 months and 1 day, against 4 months and 9 days in 2013.