Morocco Economic Forecast
July 2, 2019Growth decelerated marginally in the first quarter, due largely to a downturn in agriculture following an exceptional harvest last year. On the positive side, investment rebounded from Q4’s slight dip, private consumption remained robust and government spending accelerated. Turning to Q2, solid dynamics in industrial activities should have supported momentum although the agricultural sector will likely have detracted from growth again. Notably, strong phosphate demand should have buttressed the mining and chemical sectors, while activity in the energy, construction and environmental sectors also appear to have been robust. On 19 June, Morocco secured USD 237 million to fund a highway project as well as the expansion of a hydroelectric dam.
Morocco Economic GrowthGrowth should slightly slow this year, as a mediocre harvest will weigh on the agricultural sector. On the other hand, strong tourism and solid private consumption will power momentum, while reforms to attract FDI in key sectors should support investment. Weak activity in the Eurozone remains a main downside risk to the outlook. FocusEconomics analysts expect growth of 2.8% in 2019, which is down 0.1 percentage points from last month’s forecast, and 3.2% in 2020.
Morocco Economy Data
5 years of Morocco economic forecasts for more than 30 economic indicators.
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|Bond Yield||3.38||0.0 %||Jun 30|
|Exchange Rate||9.57||-0.29 %||Jul 11|
|Stock Market||11,272||-0.23 %||Jul 11|
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