BONDSCOACH
09-05-2006, 22:09
Rabat, May 9 - The growth rate of the Gross Domestic Product in Morocco recorded a 5.7% increase during the 1st quarter of 2006, contributed to by 3.1 points by agriculture, the High Commissioner for Planning said (HCP). In its April conjuncture report, the commissioner said the overall GDP grew 5.7%, but only about 4% when excluding the agriculture added value. The industrial added value rose 3.3%, after a 1.6% increase in the last quarter of 2005, the report said adding the good performance was made thanks to the projects carried out by the construction, infrastructure and public works sector. The energy sector also achieved a 3.6% rise compared to 15.5% during the same period of last year, the report said explaining the slackening was caused by the hike of commodity prices, especially oil and coal. Transports and communications were spurred by the sales of cellular phones and Internet access and the consolidation of transport means, notably the opening of international airlines to Europe, Africa and the Middle East. Mining activity however declined following a 3.6% decrease of phosphates output. The Masi and Madex stock indices grew 32.7 and 34.5%, respectively, in the Q1 of 2006, a progress higher than the performance of the past year. LINK: http://www.map.ma/eng/sections/economy/gdp_grows_5.7_in_q1/view