Rabat - The 2017 Appropriation Draft Bill is banking on a growth rate of the gross domestic product (GDP) of 4.5% in 2017, following a 1.8% in 2016, according to a presentation note on the said draft bill.
Rabat – The 2017 Appropriation Draft Bill is banking on a growth rate of the gross domestic product (GDP) of 4.5% in 2017, following a 1.8% in 2016, according to a presentation note on the said draft bill.
This evolution would be due to the amelioration of the agricultural value added by 11.9% and the non agricultural one by 3.5% in 2017, said the note issued by the ministry of economy and finances, which explains the increase of the agricultural value added by the improvement of cereal production by +109% in 2017.
The rise in the cereal sector would be reinforced by the growth consolidation in other sectors notably tree cultivation, market gardening and breeding, with evolution rates of +4.5%, +4.1% and +3.5% respectively.
According to the same source, the achievements of the main agricultural sectors would be reinforced in 2017 thanks to the continuing strategic actions carried out under the Moroccan Green Plan, especially in its second phase of implementation.
On the basis of a cereal production of 33.5 million quintals in 2016, the agriculture sector’s value added would decline by 8%, due mainly to the decrease in the cereal value added by 70.3%, following an increase of 69.6% in 2015, the same source said.
The same source explains that this poor performance would be offset by the consolidation of other sectors, notably tree cultivation (+15%), market gardening (+4.5%) and breeding (+4.4%).
Concerning the secondary sector, it would progress in real terms by 3.9% in 2017, following a 3.5% in 2016 and 2.8% in 2015, it added, noting that extractive industries would post a rise, in terms of their value added, of 4% in 2017, after a 2.5% in 2016 and a drop of 5.1% in 2015.
Internationally, forecasts table on oil prices of 44 dollars per barrel in 2016 and of 55 dollars in 2017, a euro-dollar parity of 1.12 in 2016 and 2017, and an increase in foreign demand for Morocco by 4.3% in 2016 and 2017.