Macroeconomic Forecast Morocco

Poor rains in October led to fears of a repeat of last year's drought and subsequent disastrous harvest. However the weather improved in November and December and, despite a serious cold snap in January, farmers are optimistic that agricultural growth will be above average. A fuller picture will emerge at the end of March but in the meantime, given the fact that even a moderate harvest would give rise to strong growth due to 2005's low base and a brighter outlook for the non-agricultural sector, we have raised our forecast for the year to 3.7% from 3.4%

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