The new government will focus on a comprehensive agenda of economic and budgetary structural reforms. Following the 6.3% GDP contraction in 2020, S&P Global Ratings forecasts that Morocco's economy will grow by 5.8% this year and about 3.5% on average per year during 2022-2024. Economic growth will stem from a broad post-pandemic recovery in domestic demand and goods exports. In sectoral terms, we expect agriculture and manufacturing to boost the recovery, as tourism will likely recover only gradually. We expect the new government's economic policy to be broadly business friendly and advance on the country's development plan that prioritizes investment in green energy and technology, expansion of health care and social security, and improved employment opportunities for women and youth.
