National savings in Morocco amounted to 24.3% of the kingdom’s Gross Domestic Product (GDP) in the first quarter of 2024, down from 25.6% a year earlier, according to Morocco’s Statistics and Forecasts Office (HCP).
The decline mirrors a 4.5% increase in national final consumption value, contrasting sharply with 8.9% growth recorded in the previous year.
GDP increased by 3.8% at current prices in Q1-2024, marking a significant decrease from the 11.6% growth seen in the same quarter of the previous year. There was also a noteworthy 6.4% reduction in net income received from the rest of the world, contributing to a slowdown in available gross national income growth from 12% in Q1 last year to 3.1% in Q1-2024.
In terms of investment, Gross Fixed Capital Formation (FBCF), which includes changes in inventories and net acquisition of valuables, represented 23.7% of GDP in Q1-2024, down from 25.5% in the corresponding quarter of the previous year. The downward adjustment resulted in a financing capacity of 0.6% of GDP in Q1-2024, compared to 0.1% in the same period last year.