Morocco’s economy expanded by 1.3% in 2022, a slowdown from the 8% growth in 2021, mainly due to challenging global conditions and a particularly severe drought. However, despite these issues and attempts to minimize the impact of price increases, public finances improved, with the budget deficit shrinking to 5.2% of GDP. Based on predictions from the country’s statistics agency HCP, Morocco’s economy is forecast to grow by 3.3% this year and 3.6% in 2024.