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RABAT, Sept 30 Morocco's economic growth slumped
to 0.5 percent year-on-year in the second quarter of 2016 from
4.2 percent in the same period last year after a severe drought
hit the agricultural sector, its planning authority (HCP) said
Agricultural output declined by 10.9 percent, it said in a
statement. The agency reported in July that it expected Moroccan
gross domestic product growth to slow to 1.2 percent in the
third quarter of 2016.
In May, the Agriculture Ministry reported that the cereal
crop in 2016 had fallen to 3.35 million tonnes, down 70 percent
from last season's record 11 million tonnes, due to the worst
drought to affect the North African kingdom in 30 years.
Agriculture accounts for more than 15 percent of the economy.
After GDP growth of nearly 5 percent in 2015, the finance
ministry expects it to ease to under 2 percent in 2016. The
central bank has said GDP growth would stand at 1.4 percent this
Growth for the $100 billion economy in the first quarter of
2016 stood at 1.7 percent, according to charts included in the
planning authority's statement.
(Reporting by Aziz El Yaakoubi)