Morocco’s growth is expected to reach 5.3% in 2021, and to consolidate to 3.3% in 2022, according to the Kingdom’s Central Bank (BAM).
“Growth would reach 5.3 percent this year, driven by a 3.6 percent increase in the value added of non-agricultural activities and a 17.6 percent rebound in the agricultural sector”, the bank pointed out in a release following the second quarterly meeting of the year.
The latter reflects in particular the very favorable weather conditions that marked the current crop year and which resulted in an increase in cereal production to 98 million quintals, it added.
In 2022, growth is expected to consolidate to 3.3 percent, with a further improvement in the pace of non-agricultural activities to 3.8 percent and a 2 percent drop in agricultural value added, assuming an average level of cereal production at 75 million quintals.
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