The 2018 deficit was 3.7%. The 2019 Finance Bill, enacted in November 2018, projected a growth rate of 3.2%.Benchaaboun noted that healthy domestic demand has supported the growth of the economy. The Services sector is the most important and accounts for 54 percent to total GDP.
And growth was slow in the eurozone (76% of Morocco’s trade).
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also predicts growth of 2.9% in Morocco’s economy in 2019. An increase in the price of butane gas contributed to higher subsidy fund spending.The government has also spent increased amounts on that helps rural families send their children to school, more university scholarships, improvements to the Medical Assistance Program (RAMED), and other programs for widows and people with disabilities.This year, the government implemented the third phase of the National Initiative for Human Development ( will focus on four programs: Reducing unequal distribution of infrastructure and basic services, supporting the vulnerable, economically integrating young people, and investing in education.Benchaaboun also noted the MAD 3.6 billion the government spent on the Advanced Regionalization Project and other funding for the Anti Spatial Disparities Program.In addition to social program spending, the government spent a large portion of the budget on paying its arrears to companies. Morocco is the sixth largest economy in Africa.
The agreement will cost MAD 14 billion. Morocco gdp …
Benchaaboun, however, noted that Morocco kept the deficit under control despite the high cost of social programs.Earlier in the year, the government made a “social dialogue” agreement with civil servants after strike. GDP Growth Rate in Morocco averaged 1.77 percent from 1999 until 2019, reaching an all time high of 9.30 percent in the second quarter of 2006 and a record low of … The biggest segments within Services are: wholesale and retail trade (9 percent of total GDP); public administration (9 percent); transport (4 percent); and hotels and restaurants (2 percent).
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Morocco’s GDP to Grow 2.9% in 2019, Down From 3.2% Projection. Morocco GDP (Gross Domestic Product) was INT$275.99billion for 2019 in PPP terms.
This development is mainly explained by the contraction of 5.8% of agricultural value added, under the effect of unfavorable climatic conditions, while that of the non-agricultural sectors marked an acceleration from 2.9% to 3.8% , specifies the Central Bank in its annual report on the economic, monetary and financial situation for the 2019 financial year, […]
Morocco’s GDP has not grown as fast as it did last year (3%) or in 2017 (4.1%).
Morocco is now addressing persistent social problems by reducing absolute poverty rates, investing in human capital through quality education, expanding access to drinking water, and linking rural areas to markets through investment in roads.
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Macroeconomic performance and outlook At 2.9%, real GDP growth in 2019 continued to decelerate. Morocco's sound economic management in recent years has yielded strong growth and investment grade status and it is weathering the negative impacts of the global crisis impressively well.
Industry accounts for 23 percent of the GDP and the largest segments within this sector are: manufacturing (15 percent of total GDP); construction (5 percent); electricity and water supply (2 percent); and mining (2 percent).
However, the International Monetary Fund, which projected 2019 growth at 3.2%, expects the growth rate to increase to After the cabinet meeting, Government Spokesperson Mustapha El Khalfi spoke on Benchaaboun’s report, including his predictions on the government budget deficit in 2019. The Gross Domestic Product (GDP) in Morocco expanded 1.10 percent in the third quarter of 2019 over the previous quarter. The 2019 Finance Bill set a budget of MAD 443 billion, which the government expected to be higher than its revenue.
Real GDP is expected to slow further to 2.7% in 2019, due to a decline in agricultural output (minus 2.1%). The government repaid companies approximately MAD Read also: World Bank Loans Morocco $500 Million Amid Mounting External Debt
Non-agricultural growth will improve (3.4% in 2019 compared to 3% in 2018), driven by better performance of phosphates, chemicals, and textiles output. A rapidly improving business environment and infrastructural base, the … The rate of overspending is still lower than it was in 2018.
Water stress limited the performance of the agricultural sector, which involves about 46% of the active population.
While 2018 marked a deceleration from the economic growth of 2017, Morocco’s overall picture continues to look stable: the IMF forecast GDP growth of 3.2% for 2018, a substantial figure, and projected growth of 3.2% for 2019. The Agriculture sector accounts for 13 percent of GDP. A number of key developments are expected to support economic growth in coming years.
Please check your email for further instructions.Morocco’s GDP to Grow 2.9% in 2019, Down From 3.2% ProjectionFrankfurt – Morocco’s gross domestic product (GDP) is set to grow 2.9% in 2019, Minister of Economy Mohamed Benchaaboun told the cabinet on Tuesday, October 8. Benchaaboun said the government “decided to make 2019 the year of the settlement of State arrears’ repayment in respect of VAT. The GDP value of Morocco represents 0.10 percent of the world economy.
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