Ratings: Foreign and Local Currency: BBB-/Stable/A-3 For further details see ratings list. We project Morocco's real GDP growth will accelerate in 2017 mainly on a strong rebound in the agricultural output that the economy continues to rely on. We expect the authorities will continue to pursue budgetary consolidation and growth-enhancing reforms, and gradually move toward a more flexible exchange rate regime over the medium term. We are therefore affirming our long- and short-term foreign and local currency ratings on Morocco at 'BBB-/A-3'. The outlook is stable, balancing our expectation of further fiscal consolidation and declining external pressures, over the next two years, against risks to economic growth performance emanating from domestic structural weaknesses. On Oct. 6, 2017, S&P Global Ratings
