Moroccan economy grew 1.3% in 2022, against 8% in 2021

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Breaking News Moroccan economy grew 1.3% in 2022, against 8% in 2021 - central financial institution
© Reuters. FILE PHOTO: A total understand shows the faded city of Fez, Morocco October 17, 2021. REUTERS/Shereen Talaat

(Reuters) – The Moroccan economy registered development of 1.3% in 2022, slowing down from the 8% development registered in 2021, the central financial institution acknowledged unhurried on Saturday.

Abdellatif Jouahri, Governor of Bank Al-Maghrib offered the figures to King Mohammed VI at some level of a reception on the Royal Palace of Tetouan, in accordance to a financial institution press liberate.

The Moroccan economy has suffered from a not easy global context and a particularly excessive drought, Jouahri outlined.

“Despite this detrimental economic context and the difficulty made to ease the impact of costs hike on households and enterprises, the general public finance instruct persevered to recover, with the budget deficit falling to 5.2 percent of GDP”, he added.

Morocco’s economic development is forecast extend to a pair of.6% in 2024 after an expected 3.3% development this year assuming a mean cereals harvest and an extend in exports, the nation’s statistics company HCP acknowledged earlier this month.

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