Morocco’s economy rebounded in 2023, registering a growth rate of 3.4%, compared to 1.5% in 2022. This growth was driven by domestic demand, which increased by 3.3%, while external trade contributed marginally, the Hight Commission of Planning said in a report published today.
The agricultural sector, which had been severely impacted by drought in 2022, showed signs of recovery, expanding by 1.4%. Non-agricultural activities also improved, with manufacturing and construction sectors recording growth of 2.7% and -0.4%, respectively.
Despite the overall positive performance, inflation remained a concern, reaching 6.4%, significantly higher than the previous year’s 2.7%. Rising global commodity prices and supply chain disruptions contributed to this. Nevertheless, the government implemented measures to mitigate the impact of inflation on households, including subsidies for basic goods.
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