(Ecofin Agency) - Moroccan high commission for economy planning (HCP) forecasts growth to stand at 3.1% for the current year and 2.9% in 2019.

Ahmed Lahlimi Alami (photo), head of the organization, said during a press conference held on July 10 that the agricultural sector should “improve in 2018, despite the delay in rainfall at the beginning of the 2017-2018 season”. He reported that cereal output is estimated at 98.2 million quintals during the current season, up 23% from the previous year. In addition, non-agricultural added value will increase from 2.8% in 2017 to 3.1% in 2018, before dropping to 1.3% in 2019.

According to the high commissioner, trade deficit will consecutively rise from 17.9% of GDP in 2017 to 18.5% in 2018 and 18.7% in 2019. Meanwhile, budget deficit should reach 3.9% in 2018 and 3.6% in 2019 against 3.4% in 2017.