Due to insufficient rainfall, Morocco’s cereals yield would stand at 60 million quintals, less than the average 80 million quintals, central bank governor Abdellati Jouahri said. Last year, Morocco had a good cereals output of 103 million quintals following abundant rainfall, which reduced the country’s wheat import bill. Rainfall was 15.1% less compared to last year, explained Abdellatif Jouahri at a press conference following the Bank’s board meeting. In this respect, the Central Bank expects Morocco’s economic growth to slow to 2.7% in 2019 after an 3.1%. He also said that the treasury would issue two international bonds in 2019 and 2020 each worth 11 billion dirhams.

Source: The North Africa Journal March 21, 2019 00:00 UTC