Central Bank : Growth to range between 4.5-5.5 pc, inflation around 2.1 in 2013

Rabat - Growth in Morocco in 2013 should range between 4.5 pc and 5.5 pc with a deceleration of non-agricultural GDP at a pace between 2.5 pc and 3.5 pc, according to the forecasts of the Board of Bank Al Maghrib (Central Bank), which held its quarterly meeting Tuesday.

According to the same source, inflation is expected to be around 2.1 pc in 2013, in line with the objective of price stability.

Noting the continued deceleration in nonagricultural activity and bank credit, Bank Al-Maghrib decided to implement a new program to encourage banks to finance very small, small and medium-sized enterprises, particularly those operating in the industrial sector or whose production is export-oriented.

This program, with a minimum duration of two years, provides banks with liquidity collateralized mostly by private securities issued by this category of businesses.