HCP : Economic growth expected to recover during the fourth quarter of 2017

The national economic growth is expected to improve to about 3.9 per cent compared to 1 per cent in the previous year, said the High Commission for Planning (HCP) in an report on the situation of the national economy.

«The growth of non-agricultural activities will continue at + 2.7% in the 4th quarter with 13.5% increase in agricultural value added, the national economy is supposed to reach  3.9%, instead of 1% as reported last year,»said the HCP.

Considering that world trade will continue to be «well-oriented", supported by strong imports from emerging countries, the HCP stresses that «demand for Morocco is expected to grow at a rate close to 5.2% in the fourth quarter».

«In the 3rd quarter, the national economy have grown by 3.8%, compared to + 1.3% recorded last year driven in particular by the 14.7% improvement in agricultural value added, instead of a decrease of 13.6% over the same period in 2016,» indicates the report.

According to the HCP, «the larger increase in exports relative to imports will result in a reduction in the trade deficit of 6.4%, in the third quarter of 2017, and an improvement in the coverage ratio of 4.3 points, to 53.9%».

In addition, «the positive trend in external demand will benefit the clothing, aerospace and automotive sectors,» said the HCP, adding that «the phosphatizer sector will have continue to benefit from a sustained demand from the countries of sub-Saharan Africa and Latin America».