Standard & Poor's credit rating : Morocco stands at BBB- with stable outlook

Standard & Poor’s, an American financial services company and one of the Big three credit-rating agencies, confirmed on the 6th of October that Morocco stands indeed at BBB- with stable outlook, as reported on Sunday by Le Point Afrique. The information was first announced in August by the Moroccan Minister of Economy and Finance, Mohamed Boussaid.

Morocco’s outlook is supposed to be stable for the two upcoming years while the GDP is expected to reach 4.5 % in 2017. According to this new S & P report, the Moroccan authorities will have to continue supporting growth while gradually moving towards a more flexible exchange rate regime in the medium term.

The same source also indicates that this rate is explained by the significant increase in agricultural production recorded in 2016. Consequently, growth rates reached 3.8% and 4.2% in the first and second quarters of 2017.

Few days later, Fitch Ratings, one of the biggest credit ratings agencies, also confirmed that Morocco stands as a BBB-, insisting that the country’s status is supported by the macroeconomic stability, and it’s prudent economic policies.