Morocco’s economy growth to reach 2.9 percent in 2019, planning agency says

Morocco’s economy will grow to 2.9 percent in 2019, the head of the planning agency said Wednesday quoted by Reuters.

The grow is, however, slower than what has been registered last year, indicated Ahmed Lahlimi who stressed that the forecasts were based on «prospects for an average crop year and an oil price of $67 a barrel».

«Morocco’s growth is still dependent on agriculture and rainfall», Lahlimi explained adding that «an exceptional crop year in 2018, the economy grew by 3 percent last year, down from 4.1 percent in 2017, due to a drop in non-agricultural activity and a decrease in external demand».

According to the same source, deficit will drop to 4.3 percent of GDP in 2019 after it was limited to 4.5 in 2018.