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Morocco’s economic growth slows as agriculture slumps

Morocco's decline in the agriculture sector has hit its economy hard 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. 

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