Morocco Economic Growth Speeds Up To 2.8 Pct in Q3Source: www.export-egypt.com 10/6/2018, Location: Africa |
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Morocco’s economic growth sped up to 2.8 percent in the third quarter from 2.4 percent the previous quarter, the planning agency said , citing improvements in agricultural output and non-agricultural sectors alike.
Agricultural output, which accounts for 14.5 percent of the North African country’s gross domestic product, rose 3.1 percent in the quarter. The country has had an exceptional cereals harvest this year totalling 10.3 million tonnes. Non-agricultural output grew 2.8 percent in the third quarter, driven mainly by expansions in industrial activity and mining. Fixed capital formation rose 2.1 percent in the third quarter, while money supply growth slowed to 4.1 percent from 4.4 percent in the previous period. Fourth-quarter growth is forecast at 2.9 percent, while agricultural output is expected to remain flat. The central bank said that for all of 2018 it expected the economy to grow 3.5 percent, followed by a 3.1 percent expansion in 2019. The government expects 3.6 percent growth this year and 3.2 percent next year |
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