Moroccos Economic Growth Seen Slowing to 3 in 2027

Morocco's economic growth is expected to slow to 3% in 2027 from 4.8% projected for this year, although the fiscal deficit should still narrow, the national statistics agency HCP said on Monday.

The economic forecast was based on the assumption of a return to an average cereal harvest in 2027 after a strong rebound in the agricultural sector this year following abundant rainfall, HCP said in a report, Reuters reported.

The current account deficit is expected to widen to 3.9% of gross domestic product in 2026 from last year's 2.4% before narrowing slightly to 3.6% in 2027, as weaker foreign demand for Moroccan goods weighs against a backdrop of slowing global trade growth, according to HCP.

The fiscal deficit is forecast to narrow to 3.2% of GDP in 2027 from 3.4% in 2026, as higher tax revenue offsets increased government spending, HCP said. Public debt is expected to edge lower to 76.1% of GDP in 2027 from 76.5% in 2026.

aawsat.com