Quake-Struck Morocco to Spend Nearly $12 Billion on Recovery
- Annual costs of five-year plan equivalent to about 2% of GDP
- Earthquake’s impact has highlighted inequalities in some areas
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Morocco expects to spend 120 billion dirhams ($11.7 billion) to rebuild and develop areas rocked by the earthquake earlier this month that killed nearly 3,000 people and highlighted inequalities in some of the worst-hit regions.
The Sept. 8 quake, the strongest to hit the North African kingdom in 120 years, also left 300,000 without shelter in the mostly poor regions of the High Atlas mountains and the key tourist magnet Marrakech.