Moroccan Prime Minister Aziz Akhannouch expected the economy's growth rate to range between 1.5 percent and 1.7 percent during 2022, instead of the average 3.2 percent expected in the Finance Law.
During the monthly accountability session in the House of Representatives (the first chamber of Parliament), which was devoted to “the situation of the national economy in light of climatic and geostrategic fluctuations,” the Prime Minister stressed that “this forecast came based on the current data that took into account the latest developments on the national and international arenas.” Last March, the Central Bank of Morocco had expected that Morocco would record, during the current year, economic growth of 0.7 percent and inflation of about 4.7 percent. According to data issued by the Central Bank, the current agricultural season will record a grain crop of about 25 million quintals, compared to 103.2 million quintals last year. He pointed out that unfavorable climatic conditions will result in a decrease in the national production of grain.
Akhannouch pointed out that economic growth during the current year will be affected mainly by the decline in the agricultural added value by about 11 percent, compared to an increase of 18 percent during the previous agricultural season. He explained that "the macroeconomic indicators at the end of 2021 and the beginning of 2022 show the resilience of the national economy." He pointed out that "the government will be able to provide the financial capabilities necessary to bear the cost of additional support allocated to the prices of some basic materials, and keep pace with the rise in their prices on the international market, while maintaining public financial balances and without resorting to an amended finance law."
Source (Al-Araby Al-Jadeed Newspaper, Edited)
