Morocco PESTLE Insights – A Macroeconomic Outlook Report
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Morocco PESTLE Outlook Report Overview
The GDP of Morocco was $142.6 billion in 2023 and was ranked 59th out of 153 nations in the GCRI Q3 2023. Although inflation has exerted pressure on the purchasing power of households and businesses, a gradual decline is expected over the next two years. It is important to note that an unfavorable outlook may emerge in the event of severe droughts. Maintaining low inflation and sustaining economic growth will necessitate a well-balanced policy approach. Incremental fiscal consolidation is essential for replenishing previously utilized buffers that aided economic support.
Morocco Macroeconomic Key Sector’s Contribution to the Economy
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The Morocco PESTLE insights report consists of the country’s snapshot, risk factors about the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure, and natural and geographic aspects that might impact business.
GDP 2022 | $142.6 Billion |
Key Landscape | · Political Landscape
· Economic Landscape · Social Landscape · Technological Landscape · Environmental Landscape · Legal Landscape |
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PESTLE Insights of the Morocco Macroeconomic Outlook Report
Political Landscape: In December 2023, Morocco and the UAE signed a declaration to promote economic, trade, and investment cooperation. The agreement also includes a multi-user irrigation project. In December 2023, Morocco and the Netherlands signed an MoU to streamline the process of transferring suspects or convicts from one country to another. In December 2023, Morocco and Spain launched a new joint anti-terrorist operation.
Economic Landscape: In June 2023, the European Bank for Reconstruction and Development (EBRD) extended a line of credit to the Bank of Africa – BMCE Group (BOA) for on-lending to micro, small, and medium-sized enterprises (MSMEs) to enhance the resilience and competitiveness of Morocco’s private sector. This loan, provided within the EBRD Financial Intermediaries Framework (FIF), intends to support BOA in financing MSMEs. Additionally, the EBRD raised the total trade line limit for BOA under its Trade Facilitation Programme (TFP). This increased limit will enable BOA to issue guarantees to confirming banks, providing cash financing for pre-export, post-import financing, and local distribution. Consequently, BOA and its private MSME and corporate clients will be able to continue importing a diverse range of goods into Morocco.
Morocco PESTLE Landscapes
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Scope
As of January 2024, the Moroccan Ministry of Transport and Logistics planned to build an additional 2,100 miles of expressways and 1,300 miles of highways by 2030 at a cost of $9.6 billion.
Key Highlights
The CFG 25 Index has been on an upward trend. As of December 12, 2023, the index stood at 23,167.3, compared to 22,698.4 on December 12, 2022.
Reasons to Buy
- Macroeconomic Outlook Report identifies the potential of the country as an investment destination by analyzing the political, economic, social, technological, legal, and environmental (PESTLE) structure.
- PESTLE Insights provides a 360-degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials, and direction of operations
- Along with providing the country’s snapshot, the report captures the risk factors about the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure, and natural and geographic aspects that might impact business.
- This report also highlights key clusters/cities which contribute significantly to the country’s GDP and population along with major companies’ presence in these areas.
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Frequently asked questions
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What was Morocco's GDP in 2023?
Morocco’s GDP was $142.6 billion in 2022.
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What was Morocco’s rank in the GCRI Q3 2023?
Morocco was ranked 59th out of 153 nations in the GCRI Q3 2023.
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Which are the key landscapes in the Morocco PESTLE Insights report?
A few of the key landscapes in Morocco’s PESTLE insights report are the political landscape, economic landscape, social landscape, technological landscape, legal landscape, and environmental landscape among others.
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