Xinhua
Morocco’s economic growth rate declined to 2.5 percent in 2019 compared to 3 percent in 2018, the official High Planning Commission said Monday in a statement.
This slowdown is due to the decline of the added value of the agricultural sector by 5.8 percent, and the increase by 3.8 percent of the added valued of the other non-agricultural sectors, it added.
The growth rate of GDP excluding agriculture stood at 3.5 percent in 2019, it noted.
The growth was driven by consumption and external demand in the context of controlled inflation and a reduction in the need for financing of the Moroccan economy, it added.
Domestic demand, increased by 1.8 percent in 2019, contributed by 2 points to the economic growth, against 4.4 points the previous year.
