These forecasts are based on assumptions that take into account the economic repercussions of the crisis linked to the pandemic of the novel coronavirus (Covid-19) combined with the negative effects of the drought on economic activity and in particular the agricultural sector, stressed the note published on the website of the ministry of Economy, Finance and Administration Reform.

It is thus a matter of an average butane gas price fixed at 290 US dollars per ton, against 350 US dollars per ton provided for by the Finance Bill-2020, a euro/dollar parity of 1.11, in addition to a cereal production estimated at 30 million quintals instead of 70 MQ initially planned, which will induce a 4.8% drop in the added value of the agricultural sector, the same source pointed out.

The said note also referred to a decline in global demand for Morocco (excluding phosphate products and derivatives) of 20%, in a context marked by strong uncertainties on the evolution of economic growth and trade at the global level, in connection with the cessation of activity and disruptions in global supply chains, noting that this situation would result in a significant decline in exports of goods and services.