HCP: Development of three.4% in 2023, pushed by home demand

The Excessive Fee for Planning (HCP) introduced development within the nationwide financial system of three.4% in 2023, in comparison with 1.5% in 2022. This efficiency is attributed primarily to home demand, in a context of sturdy inflation and discount within the financing want of the nationwide financial system, based on an data notice from the HCP on the financial state of affairs of the previous yr.

Non-agricultural actions noticed a quantity improve of three.5%, whereas the agricultural sector recorded a rise of 1.4%. Extra particularly, the added worth of the first sector elevated by 1.6% in 2023, after a pointy decline of 11.8% the earlier yr. This growth is defined by a rise of 1.4% in agricultural exercise and seven% in that of fishing.

The secondary sector additionally confirmed indicators of restoration with a rise of 1.3%, after a lower of two.7% in 2022. This efficiency leads to explicit from the rise in added values ​​of the manufacturing business (2.7 %), electrical energy, gasoline, water, sanitation and waste companies (0.7%), though the extraction business and the constructing and public works sector skilled respective declines of two.7% and 0.4%.

The tertiary sector, alternatively, noticed its development charge sluggish, going from 6.8% in 2022 to 4.4% in 2023. This slowdown affected a number of subsectors, together with lodging and catering (23, 5%), analysis and growth and enterprise companies (5.1%), in addition to monetary companies and insurance coverage (5%). However, transport and warehousing actions accelerated to five.9%, as did actual property companies (3%) and commerce and restore of autos (1.5%).

Nationwide financial savings represented 28.2% of GDP in 2023, in comparison with 26.7% in 2022. This growth displays a rise of seven.6% in nationwide remaining consumption in worth, barely decrease than that of seven.7%. the earlier yr. Gross nationwide disposable revenue additionally skilled a robust acceleration, with a development charge of 9.7%, reaching 1,576 billion dirhams in 2023.

Gross funding represented 28.8% of GDP, down from 30.3% the earlier yr, whereas the financing want of the nationwide financial system decreased from 3.6% of GDP in 2022 to 0.6% in 2023.

Home demand elevated by 3.3% in 2023, contributing 3.7 factors to financial development, in comparison with a unfavourable contribution of 1.3 factors in 2022. Ultimate consumption expenditure by households and NPISHs elevated of three.9%, with a contribution of two.4 factors to development. Gross funding additionally skilled a rise charge of 1.5%, contributing positively by 0.5 factors.

Ultimate consumption by public administrations elevated by 4.1%, contributing 0.8 factors to development. Moreover, exports of products and companies elevated by 8.8%, whereas imports elevated by 7.4%, making a unfavourable contribution of 0.3 factors to international commerce in items and companies.

LNT