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Morocco’s Economy to Grow 1.2% in Third Quarter of 2016

Source : | 4 July 2016 |  Economy | 351 views

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Rabat – The Moroccan economy is expected to grow by 1.2 percent in the third quarter of 2016 compared to 4.1 percent a year earlier, according to the High Commission for Planning (HCP).

Non-agricultural activity is expected to continue its consolidation in the third quarter of 2016 at 2.4 percent, motivated mainly by an improvement in the production of tertiary branches, while agricultural value added could experience a 13.2 percent decrease, the Raba-based HCP pointed out its monthly report of July.

Crop production is expected to decline significantly, while the contribution of the livestock industry would be slower, facing an anticipated increase in expenses related to purchases of breeders of cattle feed, the HCP added.

In a context marked by uncertainties prompted by the new partnership between the European Union and the United Kingdom following the Brexit and the wait-and-see environment for investment, the global demand towards Morocco is expected to grow by 2.8 percent year-on-year in the third quarter 2016.

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