Morocco Forecasts 3.2% Economic Growth for 2022, Down from 5.6% in 2021

According to the minister’s presentation, the growth rate of the national economy should reach 5.6% in 2021 and 3.2% in 2022, under the assumption of a [cereal production] of 70 million quintals.

The national economy should regain its momentum with a growth rate of 3.8% in 2023, before reaching 4% in 2024.

The challenges related to the preparation of the 2022 Finance Act mainly concern an increase in civil servant expenses of 6.5 billion DH and compensation expenses of +3.5 MMDH.

The preparation of the 2022 Finance Act will also have to take into account the generalization of social protection (8.4 MMDH), the reform of the Education and Health sectors (1.8 MMDH), as well as the consolidation of ongoing investment projects (800 million DH).

Also, a set of measures will have to be taken on the expenditure side, including the continued rationalization of expenses related to the management of the administration and the financing of new projects.

The 2022 Finance Act takes into account the requirements related to the gradual reform of the Compensation Fund, in accordance with the provisions of the framework law on social protection, in parallel with the generalization of family allowances.

Regarding the measures to