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Fez is the capital of the Fes-Boulemane region. Fez has a bustling commercial centre. The University of Al-Karaouine, founded in AD 859, is the oldest continuously functioning university in the world.Morocco is in Northern Africa, bordering the North Atlantic Ocean and the Mediterranean Sea, between Algeria and Western Sahara. Mediterranean, becoming more extreme in the interior. Northern coast and interior are mountainous with large areas of bordering plateaus, intermountain valleys, and rich coastal plains.The official language is Arabic. French predominates in business and tourism, as well as in political and academic circles. Spanish is more common than French in north-western areas around Tangiers, Tetouan and Chefchaouen. Many businesspeople and government officials in Rabat and Casablanca have some knowledge of English. The main religion is Islam.The economy of Morocco is considered a relatively liberal economy. The services sector accounts for just over half of GDP and industry, made up of mining, construction and manufacturing, is an additional quarter. The sectors who recorded the highest growth are the tourism, telecoms and textile sectors. Morocco , however, still depends on agriculture which accounts for only around 14% of GDP but employs 40-45% of the Moroccan population.The population in Fez is 0.944 Mil (2014 est.), while the inflation rate is -0.1% (2014 est.).