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FINANCIAL NEWS
Morocco’s GDP growth to increase in Q1
11 Jan 2015
(MENAFN) Morocco’s economic growth is expected to resume its growth to reach 4.1 percent during the January-March period of 2015 after it slowed to an annual rate of 2.7 percent in the fourth quarter of 2014 due to an increase in agricultural output, Al Arabia reported.
The country’s agricultural output declined, which declined to 6.7 million tons of grains in 2014 because of bad weather in comparison with 9.7 tons in 2013, is expected to rise again in 2015 after improved rainfall.
The government of the North African kingdom said that it expects that the country’s economic growth will be at 4.4 percent in 2015 after it had slowed to 2.5 percent in 2014,as well as saying that it plans to reduce the budget deficit to 4.3 percent of GDP this year from an estimated 4.9 percent in 2014.
“The non-agricultural sector would grow at 3.8 pct, while agricultural output would pick up at 5.1 pct in the first quarter of 2015, after dropping 1.5 pct in the fourth quarter of 2014. The oil price drop is reducing further Morocco’s balance of payments’ deficit, along with the wheat prices in the international market” Moroccan Planning Agency said,
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