Current Account in Morocco

Morocco Current Account (USD bn) | Economic News & Forecasts

Morocco - Current Account (billions of U.S. Dollars)

After rapid growth in Q2, which was partly driven by a base effect, momentum should have eased in Q3. Rising Covid-19 cases forced tighter restrictions in August, likely dampening private consumption. Moreover, export growth in July–August was lower than in Q2, amid fresh Covid-19 outbreaks abroad. That said, prospects appeared rosier later in the quarter and heading into Q4, as an accelerating vaccination campaign saw cases plummet from September. In politics, in October a new cabinet was formed and promptly presented its 2022 budget. The text signals a supportive fiscal stance, with a focus on expanding the social safety net. In the same month, Algeria confirmed its decision to close the Maghreb gas pipeline—which supplies gas to Morocco—from November. This has the potential to raise energy prices and thus weaken consumer purchasing power in Q4 and into 2022.

Morocco - Current Account (USD bn) Data

2015   2016   2017   2018   2019  
Current Account Balance (USD bn)-2.2  -4.2  -3.7  -6.2  -4.9  

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Morocco Facts

Value Change Date
Bond Yield3.020.0 %Dec 31
Exchange Rate9.56-0.29 %Dec 31

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