Morocco's GDP expands 7.2 pct in 2021: official report

2022-01-19 05:02

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RABAT, Jan. 18 (Xinhua) -- Morocco's gross domestic product (GDP) expanded by 7.2 percent year on year in 2021, the country's High Commission for Planning (HCP) said Tuesday in a report.

Morocco's economy shrank by 6.3 percent in 2020 amid the COVID-19 pandemic and a bad agricultural harvest, according to official statistics.

After a deep recession in 2020, the Moroccan economy rebounded in 2021 through an effective agricultural campaign and the improvement of the epidemiological situation that led to strengthening of domestic and external demand, the report said.

The primary sector recorded a strong growth of 17.9 percent in 2021, against a drop of 6.9 percent in 2020, it added.

For the year 2022, HCP expected Morocco's economy to grow by 2.9 percent, and its inflation to reach 1.8 percent.
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