Standards & Poors Global revises Morocco’s economic outlook to ‘positive’

S&P Global revises Morocco’s economic outlook to positive, affirming a 'BB+/B' rating. The U.S. credit rating agency Standard & Poor's (S&P) has revised to positive from stable the outlook on its “BB+/B” sovereign credit ratings on Morocco.
According to S&P Global Morocco's economy has proven resilient in the face of multiple shocks over the past five years and maintained access to domestic and external financing.
As a result, the continued implementation of socioeconomic and budgetary reforms will help formalize the economy further and make it more inclusive and competitive, thereby stimulating GDP growth and bringing down budget deficits, even if gradually.
The budget and current account deficits decreased more than expected in 2023, to 4.4% and 0.6% of GDP, respectively, but the expectation is fiscal consolidation will continue. Therefore the S&P Global has revised its outlook on Morocco to positive from stable and affirmed ratings at 'BB+/B'.