The High Commission for Planning (HCP) in Morocco predicted that the country’s economic growth rate would rise to 3.3 percent during the current year, and 3.6 percent next year, expecting a medium grain crop and an increase in exports.

According to a report published Wednesday, HCP expects a fiscal deficit of 5 percent of GDP in 2024, up from 4.8 percent in the current year. Also in 2024, the annual inflation will fall from 2.8 percent in 2023 to 1.8 percent.

However, the Treasury explained that it would resort to external financial resources to finance its needs, having relied entirely on the internal market for the past two years to meet its funding needs.

Morocco’s total sovereign debt is expected to be 86.5 percent in 2024, up from 85.8 percent this year. Also, cash supply will slow to 5.5 percent in 2024 after projected growth of 7.2 percent this year.

Source: Qatar News Agency