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    Morocco's macroeconomic risks remain broadly moderate: central bank

    08 Jul 2018

    Morocco's macroeconomic risks remain broadly moderate amid stronger global economic activities, Morocco's central bank said on Saturday.

    In terms of external conditions, the current account deficit narrowed in 2017, mainly due to easing trade deficit, higher travel receipts and transfers from Moroccans living abroad, the bank said in a statement following the meeting of its Coordination and Systemic Risk Monitoring Committee held in Rabat.

    Domestically, national growth accelerated in 2017 to reach 4.1 percent from 1.1 percent in 2016, reflecting the rebound in agricultural value added and the recovery, albeit at a slow pace in non-agricultural activities, the statement noted.

    The trend in global growth would be generally favorable, although surrounded by certain risks mostly related to the escalation of geopolitical tensions, the rise of protectionism and the political difficulties of some European countries, it noted.

    The national GDP would grow less rapidly, by 3.6 percent in 2018 and 3.1 percent in 2019, it added.

    During this meeting, the committee approved the financial stability report for the year 2017, analyzed the mapping of systemic risks and reviewed the state of progress in the inter-authorities roadmap for strengthening financial stability for the period 2016-2018.

    The Committee also discussed and approved the roadmap for monitoring cyber risks in the Moroccan financial system.

    xinhuanet

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