Morocco’s economic growth is expected to reach 2.4% in Q1-2024, marking a decline from the +3.5% growth recorded during the same period the previous year, according to the economic growth projection of the statistics office, le Haut-Commissariat au Plan ((HCP) for the first quarter of 2024. According to the HCP’s economic outlook for the fourth quarter of 2023 and the first quarter of 2024, the national economic growth is expected to experience moderation in the coming months. The recovery that commenced in late 2023 has encountered obstacles, primarily due to the resurgence of the fall drought conditions. Beyond agriculture, the growth trajectory is expected to be sustained at a rate of 2.9%, driven by the continual expansion of secondary sector activities. While services are expected to post a more moderate growth, they will maintain a substantial contribution to economic growth, accounting for 1.6 points compared to the secondary sector’s 0.5 points.

Source: The North Africa Journal January 05, 2024 20:46 UTC