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  • 29-04-20

    Morocco: economic growth forecast for Q1 of 2020 to 0.7 percent amid COVID-19

    (MENAFN) On Tuesday, Morocco's planning agency HCP revised downwards its economic expansion estimate for Q1 of this year from 1.1 percent to 0.7 percent amid coronavirus and bad performance of agricultural sector.

    As said by Morocco's planning agency, the latest data gathered until April 20 underlined a more noticeable slowdown in activity during Q1 of 2020, with the economic expansion projected to drop to 0.7 percent, instead of 1.1 percent.

    HCP has also reviewed downwards its growth prediction for Q2 to -6.8 percent yearly instead of an earlier estimate of -1.8 percent.

    It said that, coronavirus pandemic will cost the Moroccan economy USD3 billion in H1 of this year.

    MENAFN2904202000450000ID1100090988

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