Morocco Expects Growth to Shrink to 2.8% in 2018

Morocco forsees growth to slow to 2.8% in 2018, down from 4% in 2017 as rainfall uncertainties haunt the agricultural output.

The figures released by Morocco’s statistics office (HCP) show that Morocco’s growth remains vulnerable to the performances of the agricultural sector. According to the same agency, non-agricultural activities would increase slightly from 2.8% in 2017 to 2.9% in 2018.

The Central Bank, for its part, forecast in its latest report Morocco’s economy to grow by 3% in 2018.

Due to its significant contribution to the country’s GDP (around 15 percent in recent years), the agriculture sector largely determines the growth level of the whole economy.

The large fluctuations in output are also reflected in fluctuation in agricultural imports of commodities such as animal feed, wheat, and oil-seeds.