ECONOMIC GROWTH MOROCCO 2023

In 2022, Morocco experienced an economic downturn due to drought and the global crisis, but in 2023, growth picked up to 3% thanks to an improvement in agriculture and a recovery in tourism. Despite an earthquake in September, the economy was little affected. Falling world prices reduced inflation to 5% in August 2023, keeping interest rates at 3%.Reforms were launched to stimulate private-sector-led economic growth, with notable successes in the automotive and phosphate industries.