Morocco’s Economy Projected to Grow 2.9% in 2019, Minister Reports
Morocco’s economic growth should reach 2.9% in 2019 according to the Minister of Economy. Mohamed Benchaâboun presented his projections during the Cabinet meeting, which discussed the 2020 Finance Bill. At the same meeting, the Minister also stated that the growth rate of non-agricultural activities should reach 3.3%.
This growth rate of the Moroccan economy, announced by Minister Mohamed, matches the estimates of the High Commission for Planning (HCP), which, last July, estimated the growth rate for the year at 2.7% and mentioned the slowdown in the Moroccan economy, estimating the growth rate for the current year at 2.7%, compared to 3% in 2018.
"The control of the budget deficit has been achieved despite the social measures taken in 2019, in particular, the agreement resulting from the social dialogue, with a total cost of more than 14 billion dirhams (MMDH) of which 6 billion dirhams for the year 2019 alone," it is specified.
He also noted that the social programs implemented weigh heavily financially. He will cite, as an example, the launch of phase III of the National Initiative for Human Development, which will cost the State an amount of 18 billion dirhams.
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