Rabat - Bank Al Maghrib (central bank) revised down, on Tuesday, growth forecasts to 1.2% for the year 2016, with a 9.6% decline in the agricultural added value and a 2.6% deceleration in the nonagricultural GDP.
Rabat – Bank Al Maghrib (central bank) revised down, on Tuesday, growth forecasts to 1.2% for the year 2016, with a 9.6% decline in the agricultural added value and a 2.6% deceleration in the nonagricultural GDP.
In the medium term and assuming an average crop year in the next two years, growth is expected to accelerate to 4.2% in 2017 and 3.7% in 2018, said a statement by the Bank, issued following its board’s fourth quarterly meeting for 2016.
Nonagricultural GDP would accelerate to 3.4% and 3.7% in 2017 and 2018, respectively, driven by stronger revenues, particularly from the agricultural sector, and accommodative monetary conditions, said the same source.
