فاس نيوز ميديا جريدة الكترونية جهوية تعنى بشؤون و أخبار جهة فاس مكناس – متجددة على مدار الساعة
The annual report of Bank Al-Maghrib, presented by the Bank’s Governor Abdellatif Jouahri to King Mohammed VI, indicated that the Moroccan economy witnessed a notable improvement in 2023 despite multiple challenges.
According to the report, the national economy recorded growth of 3.4% in 2023, defying difficult conditions including drought and the earthquake that struck the Al Haouz region. The report also noted a decrease in the inflation rate from its peak of 10.1% in February to an annual average of 6.1%.
In the labor market, the report revealed a loss of about 157,000 jobs, mostly in the agricultural sector, indicating ongoing challenges in this field.
Regarding public finances, the budget deficit decreased to 4.4% of GDP, thanks to the good performance of tax revenues and resources mobilized through the Special Fund for Managing Earthquake Effects.
On external accounts, the current account deficit decreased to 0.6% of GDP, supported by the dynamics of the automotive industry, tourism revenues, and remittances from Moroccans living abroad.
Jouahri confirmed that Morocco continued its program of reforms and major economic and social projects, noting that the main challenge lies in maintaining this momentum and strengthening the gains achieved.
The report emphasized the importance of managing several key transitions, including enhancing social dialogue, reforming pension systems, transitioning towards a green and sustainable economy, as well as accelerating digital transformation.
Jouahri concluded his report by affirming that Morocco’s success in continuing its development journey depends on the continued focus on development fundamentals, including human capital development, enhancing governance, improving the business climate, while maintaining macroeconomic balances.
