Morocco’s economy grows 2.9% in 2024 first quarter despite drought

Morocco’s economic growth stood at 2.9% in the first three months this year, despite drought that undermined agricultural production.

Led by domestic demand, non-agricultural growth was at 4% the same period thanks to the industrial sector and services, the high commissioner for planning said in a report.

Rainfall was 42% lower compared to last year causing a retraction of sown area by 42.5% compared to an average year, the agency said.

The Central Bank had said that Morocco’s cereals harvest would halve to 2.5 million tons only this year due to rainfall shortage.

Morocco is expected to import at least 10 million tons of cereals next year to cover the low national harvest, wheat professionals told Moroccan media.