After a strong post-COVID rebound, the Moroccan economy is undergoing the impact of a string of overlapping supply shocks, both domestic and imported. First, the agricultural campaign was extraordinarily dry, leading to the collapse of rainfed crops and to a worrisomely low volume of water stored in reservoirs that poses a threat to irrigated agriculture, and potentially to other sectors of the economy. Second, as in much of the world, the war in...
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