Kiosk360. The presentation of the exploratory economic budget for 2022 and 2023 made on Wednesday by the High Commission for Planning shows growth of around 1.3% for 2022 and 3.7% for 2023. This article is a press review taken from the daily Les Inspirations Eco.
The High Commission for Planning (HCP) held its presentation of the exploratory economic budget relating to 2022 and 2023. And the projections both for this year and for the year to come were not lacking.
Thus, the national economic activity should experience a growth of 1.3% in 2022, following the rebound of 7.9% in 2021, announced, Thursday in Rabat, the secretary general of this institution, Ayachi Khellaf. “This marked slowdown in economic growth is mainly due to the drop in agricultural value added of 13.5%, while secondary and tertiary value added experienced respective increases of 1.5% and 4.5%”, Khellaf said during a press briefing.
The year 2023 promises to be much better. National economic growth should be 3.7% next year, notes Les Inspirations Eco. Khellaf underlined in this regard that four assumptions have been made for the outlook for the year 2023. This is an average 2022/2023 agricultural campaign, a slowdown in world demand addressed to Morocco by 5.9 % in 2022 to 3.6% in 2023, the renewal of the budgetary policy in force in 2022 and an oil price around $100/barrel, he specified.
In any case, economic growth should be supported by strong domestic demand, contributing 3.6 points to growth, while external demand would have a zero contribution, noted Khellaf. The budget deficit would remain at 5.5% of Gross Domestic Product (GDP) in 2023, while external deficits should see a timid reduction, he noted. For its part, the overall public debt should stand at 83.3% of GDP and the Treasury debt at 68.9% of GDP. With regard to national savings, it would show virtual stagnation, at 26.5% of GDP instead of 26.6% of GDP in 2022. Domestic savings would stand at 21.2% of GDP .
Remember that these figures come at a time when household morale is at an all-time low. The results of the household business survey, carried out by the same HCP, for the second quarter of 2022, reveal that 11.4% once morest 88.6% of households expect to save over the next 12 months. .
The balance of opinion relating to this indicator remained negative, at minus 77.3 points instead of minus 72.2 points in the previous quarter and minus 67.2 points in the same quarter of last year, indicates the HCP in its recent information note on the results of this survey. The note also indicates that in the second quarter of 2022, almost all households (99.2%) report that food prices have increased over the past 12 months compared to a minimal proportion of households (0.1 %) who feel their decrease.