National savings stood at 26.7% of the Gross Domestic Product (GDP) in Q4 of 2023, down slightly from 26.9% year on year, according to Morocco’s Statistics and Forecasts Office (HCP).
The small decline was driven by a slowdown in national consumer spending, which increased only by 6% instead of the 8.3% growth observed in the previous year, the HCP said in an information note on the national economic situation in Q4-2023.
While the HCP noted a 6.7% rise in GDP at current prices, there was also a 2.3% drop in net income from abroad, resulting in a net 6% increase in gross national disposable income during Q4-2023.
Gross investment, including gross fixed capital formation, changes in inventories, and net acquisition of valuables, accounted for 29.2% of the GDP, up from 27.6% in the corresponding quarter of the previous year. As a result, the national economy’s debt financing requirement rose from 0.8% of GDP to 2.5% in Q4-2023.