The Moroccan Gross Domestic Product (GDP) should post a growth rate of around 2.9% in 2022, according to the High Commission for Planning (HCP).
"Taking into account an evolution of taxes on net products of subsidies of 4.4%, the GDP should post a growth rate of around 2.9% in 2022 after a recovery of 5.8% expected in 2021", said the HCP which has just released its Exploratory Economic Budget 2022.
In nominal terms, the gross domestic product should post an increase of 3.8%, said the same source, stressing that this development shows a slight increase in inflation, measured by the implicit index of GDP, of 0,9% instead of 1.5% in 2021.
The national economic outlook for the year 2022 takes into account new trends in the international environment, in particular the global demand addressed to Morocco which should increase by nearly 6,7% in 2022 after 9.3% in 2021, said the HCP.
It added that these forecasts also take into account the renewal of the budgetary policy in force in 2021 and an average cereal production during the 2021/2022 crop season. However, these prospects involve "strong uncertainties" mainly related to the evolution of the epidemiological situation and the outcome of the vaccination process at the national and international levels.
On the basis of these assumptions, non-agricultural activities should post an increase in value added of nearly 3.6% in 2022 instead of 4.1% in 2021, attributable in particular to a continued recovery of the tertiary sector due to the recovery in market services, notably tourism, transport and commerce, due to the planned opening of borders in 2022.
