Central Bank of Morocco

Rabat (IINA) : The Central Bank of Morocco (Bank Al Maghrib) revised on Tuesday growth forecasts up from 1.2 percent to 1.4 percent for this year, while agricultural value added is projected to contract by 9 percent and nonagricultural growth would reach 2.9 percent, Morocco World News reported.

This came in a statement by the Bank, issued following its board’s third quarterly meeting for 2016. In 2017, the nonagricultural growth is expected to accelerate to 3.2 percent and agricultural added value would rebound by 10 percent, assuming a normal crop year, thus leading to an overall growth of 4 percent, said the same source.