Fitch Expects Morocco’s Growth to Reach 3% in 2024

The Fitch Ratings agency has maintained Morocco ‘BB+’ rating suggesting a stable outlook due to the country’s ongoing macroeconomic policies, a strong official creditor support, as well as a favorable debt profile and comfortable liquidity buffers. According to the international rating agency, in 2023, Morocco’s economy grew by 3.4%, helped by strong non-agricultural sector performance and a rebound in agricultural output following a sharp contraction in 2022. The agency also expects a 3 % growth in the North African Kingdom in 2024 due to limited rainfall affecting agricultural production and predicts a 3.5% growth over the 2025-2026 period.