Morocco FDI seen $4 bln 2010: finance minister

By Carolyn Cohn

LONDON (Reuters) - Foreign direct investment into Morocco is seen returning towards 2008 levels at around $4 billion in 2010, and the North African country plans to issue a Eurobond next year, the country's finance minister said on Monday.

Foreign direct investment dropped to 17.4 billion Moroccan dirham in the first nine months of 2009.

"For 2010, we believe FDI will come back to the same level as 2008, at around $4 billion," Morocco's Economy and Finance Minister Salaheddine Mezouar told Reuters through an interpreter on the sidelines of a Morocco investment forum.

Morocco saw record FDI of around $4.5 billion in 2008.

The government expects the economy to grow 3.5 percent next year, compared to 5.3 percent this year when a record grain harvest boosted farm incomes and domestic consumption, and 5.6 percent in 2008.

Mezouar said the lower growth forecast for 2010 was due to lower expectations in the agricultural sector.

"In the non-agricultural sector, our forecast is for a 4.4 increase," he said.

Mezouar said Morocco planned to issue a Eurobond next year.