Morocco's Economy Gains Momentum: 3.4% Growth Expected in Q3, Boosted by Agriculture
Morocco expects a slight acceleration of its economy this quarter, with growth forecast at 3.4%, compared to 3.2% in the previous quarter, according to forecasts from the High Commission for Planning (HCP).
According to the HCP, the agricultural sector plays an important role in this recovery, with an expected increase in value added of 6.8%, thanks in particular to anti-drought measures guaranteeing a sufficient supply of barley for livestock.
The non-agricultural sector will not be left behind, with expected growth of 3.3%. This recovery is mainly supported by the resilience of demand, particularly favoring accommodation and catering services since mid-2021. In addition, manufacturing production should increase by 1.6%, driven by growing demand for construction-related industries and continued growth in the manufacture of transport equipment.
At the same time, the services sector should experience growth of 4.5%, while the construction sector should gradually regain its colors thanks to an increase in the production of social housing.
