At the end of the first half of 2016, Morocco’s balance of payments recorded a current account deficit of 23.6 billion dirham against 18.5 billion over the same period in 2015, thus an increase of 27.6%, a report from the Exchange Office. This is mainly due to balance of goods slumping slightly.

Over the period considered, exports grew by 1.8%, way lower than in 2014 and 2015 respectively where it rose by 10.4% and 8.9%. In contrast, goods imports rose by 4.7% over the reference period. In these conditions, trade deficit over the period reached 87 billion dirham against 80 billion the year before and coverage of imports by exports stood at 57% against 58.5% in the first half of 2015.

The international investment position which indicates if a nation is a debtor or a creditor is for Morocco of -621.8 million dirham. This is due to increase in outstanding financial liabilities (+18.2 Mds DH) exceeding increase in financial assets (+6.8 Mds DH). The International Monetary Fund said economic growth for Morocco should grow by 4.8% in 2017. However, it first has to go through this year where the sum of created added value will grow by 1.8% only.