Morocco’s economy to grow 7.2% in third quarter 2021

Morocco’s economic growth with slow to 7.2% in the third quarter this year after 12.6% growth in the second quarter, Morocco’s high commission for planning said.

 

The growth rate is expected to be achieved on the back of a 19% rise in agricultural output and will help improve the overall growth rate in the third quarter from -6.7% the same period last year.

 

Domestic demand remains the main trigger for economic activity, the agency said, noting however a steady improvement of foreign demand notably in the car industry and agri-food segments.

 

The central bank expects growth to stand at 5.3% this year after contracting by 6.3% last year, citing prospects of a better crop year.

 

Morocco’s steady vaccination campaign is also boosting growth prospects as the country has received over 20 million doses and inoculated more than 9 million people.