Morocco's economy to hike by 4.1 pct in 2017: central bank

RABAT, Dec. 19 (Xinhua) -- The Moroccan economy is expected to surge by 4.1 percent in 2017 after a slow growth of 1.2 percent in 2016, the central bank said in a statement on Tuesday.

This positive performance is mainly due to rebound in agricultural activity, the bank added.

Morocco produced 9.6 million tons of cereals in the 2016-2017 crop year, compared with 3.35 million tons last year, according to the Moroccan ministry of agriculture.

In its forecast for 2018, the central bank expects the economic growth to slow down to 3.6 percent.

Meanwhile, the budget deficit would stand at 3.5 percent of the GDP this year, down from 4.1 percent in 2016.

The bank said it expected inflation to remain around 0.7 percent in 2017, lower from 1.6 in 2016.

The Moroccan government has vowed to achieve an average annual growth between 4.5 and 5.5 percent during 2016 to 2021. Enditem