the HCP forecasts growth of 3.7% in 2023

National economic growth should stand at 3.7% in 2023, said Thursday in Rabat, the Secretary General of the High Commission for Planning (HCP), Ayachi Khellaf.

Speaking during a press briefing dedicated to the presentation of the exploratory economic budget relating to 2022 and 2023, Ayachi Khellaf stressed that four assumptions have been made for the outlook for the year 2023.

These are an average 2022/2023 agricultural campaign, a slowdown in world demand addressed to Morocco from 5.9% in 2022 to 3.6% in 2023, the renewal of the budgetary policy in force in 2022 and an oil price around $100/barrel, he said.

Indeed, economic growth should be supported by strong domestic demand, contributing 3.6 points to growth, while external demand would have a zero contribution, noted Mr. Khellaf. For its part, the budget deficit would remain at 5.5% of Gross Domestic Product (GDP) in 2023, while external deficits should see a timid reduction, he noted.

With regard to national savings, it would show virtual stagnation, at 26.5% of GDP instead of 26.6% of GDP in 2022. Domestic savings would stand at 21.2% of GDP . For its part, the overall public debt should stand at 83.3% of GDP and the Treasury debt at 68.9% of GDP.

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