Morocco’s Economy Shows Strong Signs of Recovery, Exceeding Expectations

The Moroccan economy is gradually recovering, the DEPF reports, noting that "the available conjunctural indicators show a gradual recovery of economic activity, at rates exceeding the initially expected levels, leading national and international institutions to revise their growth forecasts upwards for the year 2021." Moreover, during this year 2021, at the sectoral level, several non-agricultural sectors of activity are recovering and some have already regained their pre-crisis level.

Regarding the mining, construction, electricity and certain branches of the industrial sector, the economic recovery is already visible, and the same is true for tourism. As for household consumption, the bar is also rising, as are investments, with the recovery of equipment goods imports and the increase in FDI earnings. As for foreign trade, an increase of 2.7 points was recorded at the end of May 2021, thanks to a 23.5% increase in exports and an 18.1% increase in imports.

For its part, the growth of bank loans fell by more than 2.5% at the end of May 2021 compared to +6.5% in 2020. The MASI and MADEX stock market indices, for their part, recorded increases of 9.9% and 9.8% respectively at the end of June 2021, compared to the end of December 2020, the same source said.