The Moroccan Ministry of Agriculture expected that the grain harvest for the current year will reach 5.51 million tons, an increase of 62% over last year.
The ministry said late on Friday that it expects to harvest 2.98 million tons of soft wheat, 1.18 million tons of durum wheat and 1.35 million tons of barley.
In a recent report, Fitch Ratings said that Morocco’s ratings depend on the performance of development and governance indicators, the rise in public debt, as well as the volatility of agricultural output.
The report stated that the economic recovery is facing headwinds, as economic growth slowed in 2022 to 1.2% from 7.9% in 2021, as agricultural production contracted by 15% due to severe drought.
Fitch expects GDP growth to recover in 2023 to 3%, supported by improved agricultural production, while agricultural performance still depends on weather conditions.
“The level of rainfall and the filling rate of dams were lower than expected by April 2023 (5.43 bcm; vs. 5.52 in April 2022), threatening agricultural prospects,” the agency continued.
