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Morocco says 2014 GDP growth to slow to 2.5 percent from 5 percent
June 20, 2013 / 12:23 PM / in 4 years

Morocco says 2014 GDP growth to slow to 2.5 percent from 5 percent

RABAT, June 20 (Reuters) - Morocco expects its gross domestic product growth to slow to 2.5 percent in 2014 from an estimated 5 percent in 2013, the High Planning Commission said on Thursday.

It cited the government’s fiscal policy, the international environment and difficult financing conditions in different sectors as reasons.

“The added value of the primary sector, assuming a medium crop year, would decrease by 3.8 percent against an estimated 14.7 perecent rise in 2013” the statement added without elaborating.

The exchange reserves would cover only three months of imports against 3.7 months at the end of 2013, which will continue to weigh on financing conditions, the commission, which is the official statistics agency, said.

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