Casablanca- Morocco’s economic forecast for 2024 appears to be quite promising, with several factors contributing to a projected surge in economic growth. The anticipated 3.2 percent increase in Gross Domestic Product (GDP) reflects a positive trajectory, building upon the momentum from previous years. This growth is supported by various initiatives and factors outlined in the economic budget report by the High Commission for Planning.

One significant aspect of the forecast is the stabilization of inflation, which is expected to be around 2.8 percent in 2024. This controlled inflationary environment is conducive to economic expansion and reflects effective management of economic factors.

The economic outlook also considers the impact of new provisions introduced in the Finance Act for the year, addressing socio-economic challenges such as inflation, drought, and natural disasters like the Hawz earthquake. Initiatives like major infrastructure projects and social support programs are expected to stimulate economic activity and contribute to overall growth.

The forecast takes into account expectations for agricultural production, despite challenges in the sector. With value-added in agricultural activities projected to increase by 2.5 percent, the agricultural sector is poised to contribute significantly to GDP growth.

Furthermore, non-agricultural activities, including construction, manufacturing, and mineral activities, are expected to drive economic expansion. Increased public investment and support programs in sectors like construction and public works are likely to fuel recovery and growth in these areas.

Domestic demand is expected to play a pivotal role in driving economic growth, with efforts to enhance household purchasing power and stimulate economic activity through public investment and social support programs.

Overall, the economic outlook for Morocco in 2024 indicates a robust expansion across various sectors, suggesting potential for sustained growth and development in the coming year.