Fitch Ratings : Morocco stands at BBB- with stable outlook

Fitch Ratings, one of the three internationally recognized statistical rating organizations, has affirmed Morocco's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, says African Markets.

Morocco’s score is linked to its «macroeconomic stability, comfortable external buffers and a low share of foreign-currency debt in public debt», says the same source.

«The government will miss its target of narrowing the central government (CG) budget deficit to 3.0% in 2018 from 3.6% of GDP in 2017. Fitch projects it will widen to 3.8% of GDP, against a revised government estimate of 3.5%», said Fitch Ratings.

Fitch Ratings expects Morocco’s general government deficit to grow to 2.5% of GDP in 2018.