Morocco’s economic growth reaches 2.8 percent in the third quarter of 2018

Moroccan economic growth has reached 2.8 percent in the third quarter after it was limited to 2.4 percent during the previous quarter of 2018, reports Reuters quoting the planning agency.

The growth is linked to improvements in the agricultural «output and non-agriculture sectors» says the same source, indicating that the first increased to 3.1 percent during this quarter. The good results have been achieved after Morocco recorded an «exceptional cereals harvest» this year that accounts for 10.3 tones.

Meanwhile, non-agricultural output rose to 2.8 percent in the third quarter thanks to the growing industrial and mining activities in the country.

Moreover, fixed capital formation reached 2.1 percent during the same period while money supply increased, moving from 4.1 percent to 4.4 percent.

Bank al-Maghrib expects Morocco’s economy in 2018 to rise to 3.5 percent and 3.1 in 2019. Meanwhile, the government’s forecasts suggest that the country’s economy to grow 3.6 in 2018 and 3.2 in 2019.