Bumper Harvest Boosting 2006 GDP

October 2006 | Economic Analysis

As a result of robust Q206 growth, we have revised our real GDP growth forecast for Morocco from 6.9% to 7.4% (MAD509.7bn). This is in some part the result of a 'bounce-back' effect from last year's low base when GDP growth slowed to 1.6%, down from 4.2% in 2005 as a result of a 17.9% year-on-year (y-o-y) contraction in the agricultural sector. As such, we are largely in agreement with Bank al-Maghrib which estimates real expansion of 7.3% this year. Q206 real GDP growth came in at an impressive 2.7% q-o-q (MAD4.4bn), or 10.8%on an annualised basis, up from 6.8%

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