HIBAPRESS-RABAT-BM
The Moroccan economy grew by 3.4% in 2023, despite global economic headwinds, an inflationary surge and the Al-Haouz earthquake. This growth was propelled by the rebound in tourism, strong manufacturing exports and increased private consumption, supported by sound macroeconomic policies.
Foreign direct investment (FDI) flows have increased and the current account deficit has fallen to its lowest level since 2007. However, challenges remain: per capita consumption has only just returned to pre-pandemic levels , and a new social assistance program is put in place to support vulnerable households. Growth is expected to slow to 2.9% in 2024, due to a weak agricultural sector, but non-agricultural GDP is expected to remain stable.
A chapter of the report, developed in partnership with the Moroccan Observatory of Small and Medium Enterprises, is dedicated specifically to productivity and job creation in the private sector. It highlights the importance of microeconomic data for policymaking, and the need for a dynamic business environment, which encourages innovation and the reallocation of resources towards more productive businesses.
