Morocco’s central bank, Bank Al Maghrib (BAM), is expected to keep its official interest rate at 3% at its next board meeting, Dounia Filali, head of securities markets at BMCE, said on May 29. Capital Global Research (BKGR).
At a conference in Casablanca, Filali cited the current economic climate, characterized by a slowdown in economic growth and inflation, as the main reasons for maintaining the status quo.
According to the Central Bank’s forecasts, Morocco’s economic growth rate will increase in the coming years to reach 6% in 2035.
This optimistic forecast is mainly due to the infrastructure projects expected before the upcoming 2025 African Cup of Nations and the 2030 FIFA World Cup.
The trade deficit currently stands at approximately 20% of GDP, Filali said. At the same time, Morocco’s foreign exchange reserves are significant and amount to about $36 billion.
Filali also highlighted the important transformation of the Moroccan industrial sector, which is moving away from traditional industries towards more diversified and high value-added sectors.
This industrial development is accompanied by a recovery in domestic demand, supported by a decrease in inflationary pressures and an increase in purchasing power.
Government initiatives such as social assistance and housing programs, along with increasing revenues of economic entities, equally contribute to this positive trend.
Despite the economic and social challenges, Filali highlighted Morocco’s remarkable resilience and ability to adapt to the demands of the global market. These qualities place the country on a long-term sustainable growth trajectory.
Source: Rossa Primavera
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