Morocco’s national savings rate increased to 28.8% of GDP in the fourth quarter of 2024, up from 28.2% in the same period of the previous year, according to a recent report by the High Commission for Planning (HCP).
This growth occurred despite a slowdown in national final consumption, which increased by 4.9% at current prices, compared to 5.7% the previous year.
The report also highlighted a decrease in GDP growth, from 8.4% in the fourth quarter of 2023 to 6.2% in the same period of 2024. Net income from the rest of the world rose by 0.9%, leading to a decrease in the growth rate of gross national disposable income to 5.8%, down from 8.7% the previous year.
Total investment, including fixed capital formation, inventory changes, and net acquisition of valuables, reached 32% of GDP, up from 29.6% in the same period last year. However, Morocco’s financing needs increased significantly, from 1.4% to 3.2% of GDP.
The Moroccan economy grew by 3.7% in the last quarter of 2024, compared to 4.2% the previous year. This slowdown is primarily attributed to a decline in agricultural activity, with non-agricultural sectors showing moderate growth.
While the economy remains largely driven by domestic demand, increasing financing needs and a widening trade deficit pose challenges for Morocco.
MK/te/fss/abj/APA