February 1, 2023

The Kingdom is clearly betting on 2023 to overcome the effects of the economic and political crises that have characterized the past three seasons, given the difficult internal and external climate due to the Corona pandemic and the Ukrainian-Russian war.

The High Commissioner for Planning, in his recent report, referred to this fact, confirming that Morocco is betting on reversing the effects of crises in the new year, causing “shocks” suffered by the national economy during previous stations, which have complicated the social conditions of Moroccan families suffering from low purchasing power.

For example, the High Planning Commission reported that in 2022 alone, the country lost about 22,000 jobs due to the health crisis caused by Covid-19 and stabilized at minus 1.3 points in terms of growth in fixed assets. .

According to economist Rashid Sari, “Morocco could achieve an economic growth rate of 4 percent given the good momentum that a group of major sectors have experienced in recent months,” noting that “the tourism sector, for example, has regained its usual vitality after two severe pandemic seasons. “.

Sari explained in an interview with Hespress that “the automotive sector, in turn, can contribute 25 percent of value added in 2023 despite international headwinds, and the same applies to the phosphate sector, whose activity is no longer limited to the extraction of this substance, but moved more towards production. Others, especially fertilizers, ensure food security in the region.

He continued: “Green hydrogen, which Morocco is betting on to position itself on the international map, will bring us significant financial gains that will make us one of the top four in the world, thus overcoming high electricity bills of around 113 percent. as well as biotechnology industries in the field of vaccines, for example.”

And the same expert added that “The Made in Morocco brand has established a policy of managing imports by exporting AED78 billion worth of consumer goods abroad in exchange for waiving the high bill for overseas imports of consumer goods (AED83 billion), which contributed to the creation of 66 thousand jobs “in the country.”

However, the only hurdle facing Morocco in the economic bet for 2023 was summed up by the Hespress spokesman for global climate change, stating that “climate fluctuations are worrying Morocco in the field of water resources and agriculture, but it is important to learn the lesson that not to rely on foreigners and to achieve national sovereignty.”

In turn, Moroccan economist Dries Al-Issawi noted that “2023 will certainly be a year of breakthrough in all areas after the difficult period that the Kingdom has experienced due to the consequences of the Covid-19 crisis and the war in Ukraine. and the resulting economic and social crises.

Al-Issawi said in a statement to electronic newspaper Hespress that “all the annalists supported this proposal, citing the achievement of an economic takeoff in Morocco in the new year, which will witness an important development boom in the fields of economy, society and politics.”

And he further explained that “the government has taken this bet by activating a lot of complex files over the last period, especially those related to the economic side; Because in 2022, the country experienced a historic inflation crisis of 8 percent, which prompted Bank Al-Maghrib to take tough measures at the beginning of the new year to cut the rate to 3 percent.

In this regard, Al-Issawi referred to “the return of private foreign investment in the Kingdom of Morocco in recent months, especially in the automotive and aviation industries, as well as in tourism, in parallel with the legal reforms that Morocco has committed to improve the work of regional investment centers” .


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