HCP: Growth at 0.3% in Q1-2022

The High Commission for Planning (HCP) indicated that the closing of the national accounts for the first quarter of 2022 shows a marked slowdown in the growth of the national economy, standing at 0.3% instead of 2% during the same period. quarter of the previous year.

This growth is the result of the increase in non-agricultural activities by 2.5% and the decrease in those of the agricultural sector by 14.3%, explains the HCP in an information note on the national economic situation in the first quarter. 2022.

Driven by domestic demand, this growth was achieved in a context of high inflation and an aggravation of the national economy’s need for financing, noted the same source.

At retail, the value added of the primary sector in volume, seasonally adjusted, contracted by 13.9% in the 1st quarter of 2022. This drop resulted from the sharp decline in the value added of agriculture of 14.3% and fishing (7.3%).

For its part, the added value of the secondary sector, in volume, fell by 0.9%, under the combined effect of the drop in added values ​​of the mining industry by 4.8%, manufacturing by 2.4% and the increase in those of “Electricity, gas, water, sanitation and waste” by 3.7% and building and public works by 1.8%.

In addition, the added value of the tertiary sector posted an increase of 4.4%, marked by the progress of activities in accommodation and catering (25.3%), transport and storage (5.7%), vehicle trade and repair (5%), services provided by general public administration and social security (4.8%) and education, health and social action services (4%) , as well as the slowdown in financial services and insurance (2.1%) and real estate services (1.9%).

At current prices, GDP rose by 4.3% instead of 3.7% a year earlier, thus generating an increase in the general price level of 4% instead of 1.7%.

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