Morocco’s economic growth should be limited at 2.6% this year after 3.4% in 2023, but should accelerate to 3.9% over the next two years, according to projections by Bank Al-Maghrib (BAM).
These projections point to virtual stability in non-agricultural growth at around 3.5% in 2024, before improving to 3.6% in 2025 and 3.9% in 2026, Morocco’s central bank points out in a press release following its fourth and final quarterly Board meeting for 2024.
In turn, agricultural value-added, affected by unfavorable climatic conditions that prevailed during the previous crop year, is expected to decline by 4.6% in 2024, before progressing by 5.7% in 2025 and 3.6% in 2026, assuming cereal harvests of 50 million quintals, equivalent to the average of the last 5 years.
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