With a "B3" rating, Morocco gets the best rating among the major economic powers in Africa in terms of country risk, ahead of Nigeria (D3), South Africa (C3), Egypt (D4) and Algeria (C3). This is revealed by the new Country Risk map for the first quarter of 2023, published by Allianz Trade.
In 2021, the outstanding public debt increased by 117 billion, reaching 1180 billion dirhams (MMDH), which represents a ratio to Gross Domestic Product (GDP) of 88.9%.
Morocco is one of the countries that receives the most foreign direct investments (FDI) in the world, ranking third in a ranking dominated by Qatar and India, according to the IMF.
Fitch Ratings confirmed on November 4 Morocco’s long-term foreign currency issuer default rating at "BB+" with a stable outlook. The American rating agency also expects a monetary tightening by Bank Al-Maghrib.
Faced with the deterioration of its external position, Morocco will seek the support of the International Monetary Fund (IMF) to strengthen its foreign exchange reserves, according to Fitch Solutions.
Transfers from Moroccans residing abroad (MRE) in 2021 increased by 37.5% compared to 2020, according to the annual report on the economic, monetary and financial situation of Bank Al-Maghrib (BAM).
Morocco does not fully exploit its tax capacity, according to the International Monetary Fund, which estimates that the share of tax revenues in the country’s gross domestic product (GDP) remains relatively low.
Despite a difficult international context, the rating agency Moody’s welcomed the economic progress made by Morocco. It changed the government’s outlook from "negative" to "stable" and confirmed its long-term issuer ratings at Ba1.
The American rating agency Fitch Ratings confirmed on May 13 Morocco’s long-term foreign currency issuer default rating at "BB+" with a stable outlook. This rating "reflects a favorable debt composition, reasonably comfortable liquidity reserves and a track record of macroeconomic stability, reflected in relatively low inflation and GDP volatility prior to the Covid-19 pandemic".
In Morocco, the economic and social cost generated by poor road safety is estimated at 1.7% of GDP per year. The finding is based on an analysis of expenses due to deaths and the difficulties of rehabilitating victims.
The investment rate in Morocco is one of the highest in the world. It represents 30% of the gross domestic product (GDP) while the world average is 20%, according to the explanations provided by the delegate minister in charge of Investment, Mohcine Jazouli.
The analysis of the regional accounts for the year 2019 revealed that the Tanger-Tétouan-Al Hoceima (TTA) region has maintained its place among the leading regions of growth, with a growth rate higher than the national average.