uae investment bank expects improvement in gdp growth
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Due to reforms

UAE Investment Bank Expects Improvement in GDP Growth

Arab Today, arab today

Arab Today, arab today UAE Investment Bank Expects Improvement in GDP Growth

UAE's investment bank Arqaam Capital.
Casablanca - Arab Today

UAE's investment bank Arqaam Capital said Morocco's GDP growth rate would decline in the coming period, but the financial situation would gradually improve with the implementation of reform programs.

Arqaam Capital expects growth rates in 2017 to amount to 4.8 percent, a significant increase from 2016’s 1.2 percent.

According to the bank, this growth was driven by improved investment climate and increased agricultural activity, and the latter component has recompensed the country's economy for the stable growth of non-agricultural sectors.

Monetary policies boost growth rates with the interest rate cut in March to 2.25 percent and inflation rates remained at low levels.

Despite the expectations of the growth of non-agricultural sector in 2018, Arqaam Capital believes that overall growth will fall to three percent in that year due to the agricultural sector growth rate returning to normal.

In its vision of Morocco's future economic growth, the year 2018 will be an exception to low growth, with rates rising again in the following year and continuing above four percent until 2022, supported by structural reforms currently being implemented by the country.

In July 2017, the International Monetary Fund (IMF) granted Morocco a $3.5 billion credit line for two years to implement structural reforms to support systems, pensions and taxes.

A report by Arqaam Capital shed light on one of the Fund's most recommended actions, which are to make exchange rate policies more flexible.

The bank believes that leaving the local currency to supply and demand will not create strong fluctuations in the economy's performance.

Morocco decided to implement the shift to a more flexible exchange rate system in July. These expectations created pressure on the currency, prompting the central bank to intervene to protect it in May and June, contributing to the drop in foreign exchange reserves.

Arqaam Capital says the reserve was reduced to $20.6 billion in mid-2017, compared with $25.4 billion at the end of 2016, not only due to currency protection but also to float expectations meeting with the rise of energy import costs and repayment of sovereign loans.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uae investment bank expects improvement in gdp growth uae investment bank expects improvement in gdp growth

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uae investment bank expects improvement in gdp growth uae investment bank expects improvement in gdp growth

 



GMT 12:47 2016 Thursday ,01 September

'La La Land' musical masterpiece dazzles Venice film fest

GMT 12:42 2017 Monday ,20 February

Dalia al-Behairy begins 'Yawmiyat Zoga Mafrosa'

GMT 19:01 2017 Wednesday ,30 August

Oil prices down as US reels from Harvey

GMT 04:19 2017 Monday ,08 May

National forces attack mercenaries in Taiz

GMT 19:21 2017 Sunday ,07 May

Iranian Film Week opens in Baghdad

GMT 21:33 2017 Sunday ,30 July

Arab Quartet meeting kicks off in Bahrain

GMT 17:17 2016 Friday ,07 October

Aleppo bleeds as US and Russia spar

GMT 12:03 2015 Monday ,21 December

Nepal protester killed in constitutional crisis clash

GMT 09:47 2016 Thursday ,22 December

Trump vows to cut F-35 spending, as leaked memo

GMT 21:44 2017 Friday ,15 December

King establishes Hawar Development Committee

GMT 20:57 2017 Tuesday ,16 May

Naval Forces rescue 23 tourists in Hurghada

GMT 12:56 2017 Monday ,11 December

Lyon leave it late, Balotelli with Nice winner

GMT 06:18 2017 Thursday ,19 October

Russian delegation meets with Julphar chairman

GMT 21:20 2017 Monday ,23 October

Nasr, delegation of London Stock Exchange

GMT 14:40 2012 Saturday ,10 March

Magdy Al-Galad steps down

GMT 09:47 2017 Sunday ,12 March

Cat Camp in New York attracts cat lovers

GMT 14:57 2016 Friday ,09 September

Madonna, Ritchie settle child custody dispute

GMT 23:52 2017 Monday ,18 September

UAE economic growth boosting logistics sector
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday