After raising the sovereign credit rating .. Is Morocco’s economy recovering?

Raising the credit rating will contribute to the recovery of the Moroccan economy

An economic expert confirmed that Morocco’s upgrading in the sovereign credit rating of the Standard & Poor’s Agency to “the degree of investment” is evidence of the confidence of international financial institutions in Morocco, stressing that this progress will contribute to the recovery of the Moroccan economy.

The American “Standard & Poor’s” agency raised the sovereign rating of Morocco to “BBB-/A-3” instead of “B/BB”, which enabled the Kingdom to restore the “investment degree” classification.

The US agency explained that this decision reflects the flexibility of the Moroccan economy in the face of successive economic shocks, and also reflects the hardness of macro foundations, and the steadfastness of the Moroccan economy thanks to the implemented reforms.

In their classification of Morocco, the agency has relied on economic performance and future prospects, in addition to its ability to withstand the unrest that affected the global economy, especially after the imposition of American customs duties, as well as public policies, and the structural, social and financial reforms that the Kingdom has introduced.

The re -classification of Morocco within the category of “investment degree” grants several privileges, most notably facilitating access to international financing on preferential conditions, and reducing the cost of public debt.

This classification also enhances the confidence of foreign investors and partners, and the Kingdom’s attractiveness to foreign direct investments, contributing to supporting sustainable economic growth and economic balances.

In this context, economist Rashid Sari said, in a special statement to “Sky News Arabia” that Morocco’s upgrading in the “Standard & Poor’s” classification is evidence of confidence between Moroccan financial institutions and the World Bank.

The expert explained that this upgrading reflects the dynamic and mobility that the Moroccan economy lives, especially after opening several large workshops.

Sari stressed that this new classification will give a distinguished reputation to Morocco at the global economic level, and will revive its economy, and will increase the percentage of flowing investments, explaining that “investors will make sure that they are dealing with a reliable country, and with an economy capable of interacting with international changes.”

The economist attributed Rabat’s upgrading in this classification to the increasing number of open workshops, such as the projects that Morocco started in preparation for its organization of major sporting demonstrations, such as the FIFA World Cup for the year 2030.

The recovery of the tourist field, and the field of renewable energy has an important role in this upgrading, according to Sari.

Sari explained that this economic measure will allow reducing external debt pressure, and will allow Rabat to fund many economic projects with lower benefits and reduced measures.