Morocco Reports 4.1% Growth

Head of government Saad Eddine El Othmani has asked Moroccans to “stop being gloomy and unrealistic” about the economy despite problems such as poverty, unemployment and high fuel prices, Morocco World News reported. During a parliament session, El Othmani said that while there is poverty, it is decreasing, according to Morocco’s High Commission for Planning in charge of economic, demographic and social statistics. El Othmani affirmed that Morocco’s economic growth reached 4.1% in 2017, a notable improvement from the 1.1% growth rate in 2016, thanks to better performance in tourism, agriculture and manufacturing sectors. He affirmed that the government’s utmost priority is to overcome the challenges facing the country’s economy, such as the high fuel prices and protecting consumers’ purchasing power. Since fuel deregulation in 2015, during Abdelilah Benkirane’s government, some fuel companies doubled their profits as fuel prices were allowed to vary with market trends. The government has taken measures to find a solution to the high fuel prices by requesting companies to narrow their profit margins, he said.