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|19 March, 2019

Morocco keeps benchmark interest rate unchanged at 2.25%

The bank expects Morocco’s budget deficit to widen to 4.1% in 2019, excluding privatisation revenue

RABAT- Morocco’s central bank left its benchmark interest rate flat at 2.25 percent on Tuesday, saying the decision was in line with the inflation and growth outlook.

Inflation, driven mainly by food prices, was seen dipping to 0.6 percent in 2019 from 1.9 percent in 2018, before picking up to 1.1 percent in 2020.

The bank expects Morocco’s budget deficit to widen to 4.1 percent in 2019, excluding privatisation revenue, from 3.7 percent last year. The forecast is higher than the government’s expectations of 3.7 percent and 3.3 percent including privatisation revenue.

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(Reporting by Ahmed Eljechtimi; Editing by Alison Williams) ((ahmed.eljechtimi@thomsonreuters.com;))

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