Coronavirus: Morocco’s economy to shrink 6.8 pct in second quarter, says agency
Morocco’s planning agency revised downwards on Tuesday its growth forecast for the second quarter to -6.8 percent year-on-year instead of an earlier estimate of -1.8 percent as the coronavirus lockdown hit both foreign and domestic demand.
First-quarter growth stood at 0.7 percent compared with a previous projection of 1.1 percent, the agency said in a statement, citing a drop in cereals output.
The coronavirus will cost the Moroccan economy $3 billion in the first half, it said.
Read more:
Coronavirus: Morocco extends national lockdown until May 20
Morocco arrests over 4,300 for breaching coronavirus emergency rules
Coronavirus: Morocco NGO helps poor single mothers amid COVID-19 crisis
-
Coronavirus: Morocco extends national lockdown until May 20
Morocco is to extend its national lockdown to contain the spread of coronavirus until May 20, the government said on Saturday. The ... Coronavirus -
Morocco arrests over 4,300 for breaching coronavirus emergency rules
More than 4,300 people were arrested over the weekend in Morocco for breaching emergency rules in place to combat the novel coronavirus, according to ... Coronavirus -
Coronavirus: Morocco NGO helps poor single mothers amid COVID-19 crisis
A small van zips through the streets of Casablanca to deliver food to single mothers, as economic paralysis caused by the coronavirus crisis puts ... Features