Central Bank : Morocco's growth would stand at 3.3% in 2018 and at 3.1% in 2019

Morocco’s growth would stand at 3.3% in 2018, as against 4.1% in 2017, while it is expected to slow to 3.1% in 2019 before rising to 3.6% in 2020, according to the Central Bank.

«HCP data for the second quarter indicate an economic activity level well below expectations. Taking account of these results and the available infra-annual indicators, growth would stand at 3.3 percent in 2018, as against 4.1 percent in 2017», and to slow to 3.1% in 2019 before rising to 3.6% in 2020, said the Bank in a statement issued Tuesday after the last quarterly meeting of its Board for 2018.

Agricultural value added would increase by 4.6% as against 15.4%, while non-agricultural activities growth would rise slightly from 2.7% to 3.1%, said the same source, adding that over the medium-term, nonagricultural activities would grow by 3.4% in 2019 and 3.7% in 2020.

Assuming a return to an average cereal output of 80 million quintals, agricultural value added would drop by 0.8% in 2019 and then rise by 3.3% in 2020.