The Central Bank of Morocco cut its key interest rate by 25 basis points to 2.5 percent. The decision was in line with inflation expectations.
The central bank revealed that inflation will reach an average of 1 percent in 2024, down from 6.1 percent last year, before rising to 2.4 percent in 2025.
Morocco's central bank expects the economy to grow 2.4 percent this year, down from 3.4 percent in 2023, as the agriculture sector continues to be affected by drought.
Assuming that the non-farm sector performs well and the average cereal harvest reaches 5 million tons, growth will stabilize at 5.7 percent in 2025.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
