Central Banking

Bank Al-Maghrib - Annual Report 2004

According to Bank Al-Maghrib's (the central bank of Morocco) Annual Report 2004, growth continued at a sustained rate and was stimulated, as in 2003, by domestic demand both for consumption and investment.

"Gross domestic product indeed grew by 4.2%, reflecting a 1.9% increase in the value added of primary activities and, in particular, a 4.7% expansion of that of the other sectors. At the same time, the unemployment rate fell to 10.8% nationally and 18.4% in urban areas. Inflation, at 1.5%

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