Morocco Economic Forecast

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The economy is in a sweet spot thanks to an improved agricultural sector, which benefitted from better weather conditions, and led to a boost in food supply and rising demand for phosphate fertilizers. Tourism also made a marked contribution to Q2’s growth as the country has relatively good security conditions in the region. On the downside however, activity in the construction sector remained in the doldrums. In Q2, GDP expanded 4.8% annually, up from 3.8% in Q1. The government presented the economic assumptions for the 2018 budget on 16 August, which include a deficit of 3.5% of GDP, above the 3.8% projected for this year. The government also warned that the all-important agricultural sector could subdue economic growth in 2018 due to an expected poor cereal production.

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source: Focus Economics