Morocco : Standard & Poor’s upgrades outlook for sovereign debt rating to “positive”

Standard & Poor’s maintains Morocco’s sovereign debt rating at BB+/B but upgrades the outlook to « positive », citing socio-economic and budgetary reforms. GDP growth forecasted at 3.4% in 2024, bolstered by tourism, automotive, and aerospace sectors. Budget deficits expected to decrease to 3% of GDP by 2027, with structural reforms supporting fiscal consolidation.