Friday, 03 December 2021 09:34 GMT

Morocco's Economic Growth to Stand at 3.5% in 2017

(MENAFN- Morocco World News) The Moroccan economic growth will stand at 3.5% in 2017 against an estimation of 1.5% in 2016, said, on Tuesday in Casablanca, High Commissioner for Planning Ahmed Lahlimi Alami.

With a drop of 9.7% in the value added of the primary sector and a rise of 3.1% in the non agricultural GDP, the national economic growth will stand at 1.5% in 2016, that is an increase of 0.2% compared to January forecasts, said Lahlimi at a press conference on the national economic situation in 2016 and outlook for 2017.

Growth will continue to be driven by domestic demand due to the recovery, after two years of decline, of investment and the maintenance, even at a moderate pace, of the final consumption which is affected by a continued decrease in the growth rate of household consumption, he said.

The agricultural sector will be marked by a significant fall in crop production during the 2015-2016 agricultural campaign, reaching 33.5 million quintals instead of 115 millions posted the previous year, said Lahlimi, noting that, despite the strengthening of the growth of non cereal cultures and breeding, the agricultural value added will decrease by 11% in volume in 2016 instead a rise of 12.8% posted in 2015.

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