Morocco’s economic growth is set to improve gradually, rising to 2.9% in 2023 and 3.2% in 2024, according to projections by Bank Al-Maghrib (BAM), which do not take into account the consequences of the Al Haouz earthquake and the impact of the reconstruction and recovery measures announced.
This trend would be the result of a 5% increase in agricultural value added in 2023 and 5.9% in 2024, assuming average cereal production of 70 million quintals, says Morocco’s central bank in a press release issued after the third quarterly meeting of its Board of Directors for 2023.
For non-agricultural activities, the pace of growth should slow to 2.6% in 2023, followed by an acceleration to 3% in 2024, BAM forecasts.
