ISpeaking at a press briefing held at the end of the 3rd meeting of the BAM Board of the year 2022, Jouahri reported a continuation of the rise in inflation with a broadcast « plus large » inflationary pressures.
Inflation continues to be fueled by pressures of external origin, but also internal, noted the wali of BAM, specifying that the latest available data show a wide diffusion towards the prices of non-tradable products. “The spread of the rise is widening. Of the 116 sections of goods and services that make up the reference basket of the consumer price index, 60.3% saw an increase of more than 2% in August compared to 42.2% in January 2022 and 23% on average between 2018 and 2019 »he explained.
The persistence of high prices of food and energy raw materials would push inflation to a high level in 2022, i.e. 6.3% instead of 1.4% in 2021, he observed.
In 2023, inflation should return to 2.4% on average, estimated the governor of BAM, specifying that these forecasts include the effect of the increase in the key rate. Likewise, Jouahri noted that this decision to raise the policy rate also takes into account the various measures taken recently by the government to relieve the purchasing power of the citizens.
“We will continue to watch the economic situation closely, at the national and international levels, in particular in this context marked by several uncertainties”, he assured. Furthermore, Jouahri noted a “sharp deceleration in the growth of the national economy in 2022”saying that following rebounding to 7.9% in 2021, the growth of the national economy would slow to 0.8% in 2022.
In 2023, growth would stand at 3.6% with an 11.9% recovery in agricultural value added, estimated Jouahri.
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