80883
Morocco Reports Faster Growth
Morocco Reports Faster Growth

Morocco Reports Faster Growth

Morocco Reports Faster Growth

Moroccan authorities say the country’s economic growth jumped to 4.6% in 2017, up from 1.2% in 2016, Xinhua reported. Speaking at a press conference on the performance of the economy in 2017, Moroccan Minister of Economy and Finance Mohamed Boussaid said the faster growth was achieved on the back of the 15.4% gain in the agricultural added value. Inflation rate slowed to 0.7% in 2017 against 1.6% in the previous year because of stable food prices, he noted. Boussaid said the unemployment rate rose slightly from 10.4% to 10.6% between 2016 and 2017, after a 1.1% hike in the labor force. The trade deficit, however, widened 2.6% despite the 9.3% jump in exports, as Morocco’s imports, affected by rising energy costs, rose 6.3% last year. Meanwhile, the International Monetary Fund said recently that it expects Morocco’s economy to accelerate over the medium term amid a slew of reforms including monetary policy liberalization that has seen greater flexibility in the exchange rate. “Morocco’s sound macroeconomic policies and reform implementation have helped improve the resilience of the economy,” said Mitsuhiro Furusawa, the IMF’s deputy managing director and acting chair.

 

Short URL : https://goo.gl/BEneDM
  1. https://goo.gl/obTkNS
  • https://goo.gl/SE3Tvy
  • https://goo.gl/UVvmmD
  • https://goo.gl/8Ean7N
  • https://goo.gl/kQh2d3

You can also read ...

Saudi Arabia Facing Uphill Battles
Saudi Crown Prince Mohammed bin Salman’s Vision 2030 scheme...
The popular Tesla Model S is due to sell by the end of this month in China, at which point the price will go up about $20,900.
More than a week has passed since the US and China fired the...
Switzerland has the smallest ratio with 7.2% of GDP.
The shadow economy in Jordan accounted for 17.38% of the GDP...
The bankruptcy of investment bank Lehman Brothers on September...
German Cabinet Warned of Economic Risks
The chief of Germany’s central bank, Jens Weidmann, warned the...
The Bank of Italy revised its growth estimates down to 1.3% for 2018, and to 1% for 2019.
Italy's already weak growth forecasts were revised downwards...
Airbus, AirAsia Discussing $23 Billion Deal
The Malaysian airline, already the second-biggest customer for...
Pakistan Raises Key Interest Rate
Pakistan’s central bank on Saturday raised interest rates by...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus