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Morocco central bank forecasts economy to shrink 6.3 pct in 2020

Christian Fernsby ▼ | September 23, 2020
Morocco's economy will shrink by 6.3 percent in 2020, the central bank said on Tuesday after it's third quarterly meeting this year.
Morocco central bank
Forecasts   Morocco central bank
The bank has adjusted downwards his previous forecast announced in June, a decline of 5.2 percent, following the continued slowdown of the North African country's economy due the COVID-19 pandemic.

Topics: Morocco

Morocco registered an economic growth of 2.5 percent in 2019, according to its official statistics. Meanwhile, the central bank decided to maintain its benchmark interest rate unchanged at 1.5 percent.

Morocco on Tuesday reported 2,227 new coronavirus cases, raising the total number of infections in the country to 105,346.