Economy Morocco’s economic growth slows as agriculture slumps By Pramod Kumar October 10, 2022, 5:23 AM Reuters/Agustin Marcarian Morocco's decline in the agriculture sector has hit its economy hard Morocco’s economic growth is projected at 1.8 percent in the third quarter of 2022, compared to 2 percent in the previous year, Morocco World News has reported, citing the country’s Higher Commission for Planning. The agriculture sector’s contribution fell by 15.2 percent and is expected to decrease further by almost 16 percent at the end of 2022, further slowing the country’s economic growth. The commission expects Morocco’s overall economic growth of 1.4 percent in the fourth quarter of 2022 if a 3.3 percent growth is reported in non-agricultural activities. The economic slowdown is driven by global crises such as the Ukraine conflict and sanctions on Russia. Tightening monetary policies and central banks raising interest rates to control inflation are likely to have a negative impact on global growth. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
