Bank Al-Maghrib (the central bank) set the interest rate by 50 basis points to 1.5 percent, expecting the medium-term inflation rate to remain at a moderate level of about 1 percent in both 2020 and 2021. This is in a context marked by weak inflationary pressures caused by demand and low commodity prices.
The central bank expected to record the national economy, due to the dual effects of drought and the restrictions imposed to limit the spread of the "Covid-19" epidemic, during the year 2020, its strongest decline since 1996, by 5.2 percent. The value-added in the agricultural sector is also expected to decrease by 4.6 percent, with a cereal yield of 30 million kantars, according to the Ministry of Agriculture.
Growth in 2021 is likely to rise to 4.2 percent, with agricultural added value increasing by 12.4 percent, with the hypothesis of achieving a cereal crop of 75 million kantars, and the improvement of non-agricultural activities improving to 3.1 percent. Indicating that, given the rapid and mysterious development of the status quo, these expectations remain surrounded by many uncertainties.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
