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Moroccan Economy The 90sThe 90s decade was characterized by a wave of privatizationsAffected Sectors:Large State-owned FarmsTelecomsOil Refinery (Samir)Revenues from privatization between 1993 and 2005: MAD 75.5 billion, about ($ 9.5 billion).The 2000sMajor Exports:Agriculture, phosphates and tourism.Agriculture:Largely dependent on rainfall despite irrigation policyFarming on a small scaleLarge profitable farms are subsidized and state owned + wealthy.