Posted by: Morocco World News
The research group BMI forecasts GDP growth at 3.6 percent in its latest economic outlook report.
Linking public infrastructure investment to continued growth, BMI estimates are 0.4 percent higher than forecasts by the Bloomberg consensus.
With employment on the rise following a fruitful agricultural season, BMI reports consumer confidence reaching “multi-year highs in recent months.”
As the agriculture sector employs approximately 40 percent of the nation’s workers, high consumer confidence and a productive harvest should lead to higher private consumption.
Moreover, the aforementioned public investment in infrastructure, including new highways and solar power plants, will facilitate the higher employment and development in the public works and sustainable energy sectors.
Morocco’s commitment to strong fixed investment growth has attracted global attention, featuring in the top 10 of Rand Merchant Bank’s “Where to Invest in Africa” ranking. RMB bases its assessment on market activity, the operating environment (rules and regulations), and investment attractiveness.
BMI indicators align with the optimistic economic forecast by the High Commission for Planning (HCP) for 2017 and 2018. According to the HCP, 2017 saw improvements in national economic growth, agricultural value, and the growth rate of non-agricultural activities.
Although the HCP recorded slight deceleration in the aforementioned categories from 2017 to 2018, the overall economic environment forecasts positive growth and a consistent and strong economy for the remainder of the year.