Monday , September 26 2022

Fitch Ratings maintains its rating



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Fitch Ratings maintained its long-term sovereign credit rating in Morocco on Tuesday 13 November to "BBB-" with a stable perspective, unlike Standard & Poors, which revised down on October 5, prospects for Morocco's credit rating from "stable" to "negative".

According to the rating agency, "Morocco's rating is supported by continued macroeconomic stability and a small portion of foreign currency debt in government debt offset by weak indicators of development and governance," he said. large current account deficits ".

According to the agency, "the government's goal of reducing the budget deficit to 3% of GDP in 2018 will not be achieved". It states that "the deficit will be 3.8% in 2018".

"Rising hydrocarbon prices will result in an increase of 0.4% of GDP relative to subsidy spending."

Click here to see the full analysis.

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