growth forecast for 2012 in Morocco maintained at less than 3% -Central bank

Rabat, September 25, 2012 (MAP)

The growth forecast for 2012 in Morocco is maintained at less than 3%, particularly in connection with the materialization of risks relating to activity in key partners and the crop year, the Central Bank (Bank Al Mghrib) said on Tuesday.

The Bank explained that external accounts continue to be impacted by changes in the global economy, with the trade deficit as at end August widening by 6.1% year-on-year.

As for expatriate remittances and travel receipts, they were down 1.8% and 5%, respectively.

GDP in 2013 is expected to expand between 4% and 5%, on the basis of an average cereal production and still mixed international economic outlook, according to the Bank.