Earthquake's Impact on Growth: It Is Still Early to Make Judgement (Central Bank Governor)
The Governor of Morocco's Central Bank (Bank Al-Maghrib - BAM), Abdellatif Jouahri, said on tuesday in Rabat, that it's still too early to judge the real impact of Al Haouz earthquake on the national economy.
"It's still early to form a judgement. An in-depth analysis is being carried out to measure the impact of the earthquake on various sectors of activity," he said at a press briefing held at the end of BAM's third quarterly Board meeting for 2023.
In his view, the impact on growth, the budget and the balance of payments cannot be assessed now, underlining the importance of taking the necessary hindsight to be able to identify the most suitable financing component.
On this occasion, Jouahri reiterated the Central Bank's commitment to supporting the government's efforts and making its contribution to sustaining the sectors of the economy that will suffer from the effects of the earthquake.
BAM Governor also highlighted the post-earthquake situation, pointing out that the experiences of other countries hit by natural disasters have shown a recovery in economic activity, notably through boosting certain sectors such as construction and public works as well as tourism.
MAP: 27 September 2023