Fitch agency has maintained Morocco ‘BB+’ rating with a stable outlook thanks to the country’s sound macroeconomic policies, strong official creditor support, favorable debt profile and comfortable liquidity buffers. “We expect growth to average 3.5% over 2025-2026 on the back of normalizing agricultural output and sustained non-agricultural sector performance”, said Fitch in its latest report on Morocco. In 2023, Morocco’s deficit narrowed to 4.3% of GDP (5.4% recorded in 2022) owing to a decline in subsidy spending as a result of lower international gas prices. The rating agency expects net FDI to rebound to 0.8% in 2024 due strong investment inflow in the automotive sector. Fitch says Morocco enjoys political stability contrary to the recurring bouts of unrest rocking the Middle East and North Africa region, making the Kingdom an attractive destination for global investors.

Source: The North Africa Journal October 10, 2024 13:26 UTC