The High Commission for Planning, the Moroccan government institution responsible for statistics, announced on Thursday expectations of a slight decline in the pace of annual economic growth in the Kingdom, as it is expected to reach 4.7% during the second quarter of this year, after it had reached 5% in the first quarter.
The delegation explained that these estimates are based on assumptions, including an oil price ranging between $85 and $100 per barrel, in addition to the “sturdiness” of local demand, and the expected positive impact on the agricultural sector as a result of the heavy rains that the country witnessed during the winter.
She stated, according to Reuters, that the negative effects of rising fuel prices on inflation rates will be partially mitigated through government support directed to maintain the stability of electricity, cooking gas, and public transportation prices.
On the other hand, the International Monetary Fund expects the Moroccan economy to achieve growth of 4.4% during the current year, after recording growth of 4.9% last year.
