Morocco’s economy to contract 13.8% in Q2, 4.6% in Q3 – planning agency

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Rabat (Reuters) – Morocco’s economy is expected to contract by 13.8% in the second quarter under the impact of the coronavirus lockdown, the state planning agency said on Sunday.

It said the economy was expected to shrink by a further 4.6% year-on-year in the third quarter as restrictive measures are loosened.

The economy grew 0.1% in the first three months of this year, it said.

Both domestic and foreign demand are expected to improve in the third quarter after taking a hit in the previous three months.

The central bank forecasts economic growth at -5.2% in 2020 against +2.5% last year.

Reporting by Ahmed Eljechtimi; Editing by Timothy Heritage and Jan Harvey

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