Morocco to spend $1 billion to mitigate drought impact- palace

© Reuters. FILE PHOTO: A dry field is seen the Bouskoura village, outside Casablanca, Morocco February 3, 2016. REUTERS/Youssef Boudlal

RABAT (Reuters) – Morocco will spend 10 billion dirhams ($ 1.07 bln) on a national plan to mitigate the impact of drought on farmers and the economy, the royal palace said on Wednesday.

The plan targets water management, helping farmers and agricultural insurance as well as ensuring wheat and animal feed supply, the palace said in a statement.

Morocco is experiencing the worst drought in 30 years as the country has registered a rainfall deficit of 64% so far this year.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.