In a recent webinar organized by the British Chamber of Commerce for Morocco (BritCham), President Stephen Orr lauded the resilience of the Moroccan economy in the face of economic shocks. Orr attributed this resilience to ambitious reforms implemented in recent years.
The webinar served as a platform to discuss the economic landscape of Morocco and its future outlook. Despite challenges such as rainfall deficits, inflation, and geopolitical tensions, Orr highlighted Morocco’s remarkable performance, especially in the automotive and tourism sectors.
Orr emphasized the Kingdom’s exceptional ability to respond effectively to economic shocks, pointing out positive projections for the years ahead. He referenced recent figures from Morocco’s statistics office (HCP, Haut-Commissariat au Plan), indicating an anticipated acceleration of economic growth to 3.2% in 2024.
The British official underscored the importance of the webinar in addressing challenges and issues crucial to the country’s economic trajectory by 2024.
Ayache Khellaf, Secretary-General of the HCP, contributed to the discussion, stressing the pivotal role of human capital as a driver of economic growth. He urged the resolution of the “underutilization” of human resources through increased investments in technology and productive sectors.
Khellaf also provided insights into the economic landscape, noting an expected strengthening of economic growth to 3.2% in 2024, compared to 2.9% in 2023. These projections considered factors such as a below-average agricultural campaign for 2022/2023, a recovery in global demand for Morocco, an oil price around $80 per barrel, and the implications of the 2024 Finance Law.
Established in 1923, BritCham, a Moroccan non-profit association, plays a vital role in improving trade relations between the United Kingdom and Morocco. Its missions include expanding business opportunities through support, awareness, information, and networking services.
Source: Agency Morocaine De Presse