RABAT, Oct 1 (XINHUA/APP): Morocco’s economy contracted by 14.9 percent in the second quarter of 2020, compared to a 0.1-percent growth in the first quarter, the state planning agency said Thursday.
Hit by a three-month-long COVID19 lock-down, this poor performance is expected to continue into the third quarter as the pandemic is still spreading with a daily average of 2,000 new cases in Morocco. Non-agricultural activities and agricultural sector shrank by 15.5 percent and 6.9 percent respectively, said the Higher Planning Commission (HCP).
The value added of the secondary sector registered a sharp decline of 17.3 percent in growth in the second quarter, while the tertiary sector recorded a decline of 14.9 percent, HCP added. Morocco’s central bank has expected the North African country’s GDP to contract by 6.3 percent in 2020 because of the impact of the COVID19 pandemic.
Morocco announced on Thursday 2,470 new COVID19 cases, taking the total tally in the country since March 2 to 123,653.
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