Morocco: Growth Forecast at 5.8% in 2021 (HCP)

Morocco: Growth Forecast at 5.8% in 2021 (HCP)
Monday 19 July 2021 - 15:41

The growth of the national economic activity should rebound by 5.8% in 2021 instead of a 6.3% recession recorded last year, the High Commission for Planning (HCP) forecasts.

This figure would be attributable in particular to the promising prospects of the 2020/2021 agricultural campaign as well as to the recovery, under the base effect, of the non-agricultural activities benefiting from an attenuation of the negative effects of the health crisis thus reflecting the beginning of recovery of the national economy, explains the HCP which has published the 2022 exploratory economic budget.

The primary sector should record a rebound of about 17.5% in 2021, thus contributing positively to the growth of the gross domestic product (GDP) by 2 points, while non-agricultural activities should show a positive growth of 4.1%, indicates the same source, noting that this recovery would be attributable to an increase of 4% of secondary activities and 4.1% of tertiary activities.

In the secondary sector, the processing industries should benefit from the recovery of the textile and clothing industries and the continued improvement of the agro-food industries and chemical and para-chemical activities, following the continued strengthening of external demand.

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