The High Commission for Planning expected Moroccan economic growth to rise to 3.3% in 2023 from 1.3% in 2022, driven by domestic demand.
The High Commission indicated that the forecast assumes average crop production after the worst drought in decades, a decline in foreign demand for commodities, and oil prices at $90 a barrel. She noted that these numbers are still subject to change due to the ambiguity resulting from the impact of geopolitical tensions, as well as the risks of the pandemic and the climate.
According to the delegate, inflation driven by imports will reach 1.9% in 2023 compared to 5% in 2022. It expected the fiscal deficit to widen to 5.2% of GDP in 2023 from 3.9% this year on the back of lower tax revenues and increased spending on subsidies and social security networks.
It revealed that the money supply will increase by 5.1% in 2023, compared to 6.1% in 2022.
Source (CNBC Arabic Website, Edited)
