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Growth in Morocco: EBRD lowers its forecasts

The growth of the Moroccan economy would be limited to 3.2% this year against a rate of 3.5% announced last November, according to new projections by the European Bank for Reconstruction and Development (EBRD).

In a note on growth prospects in the South-East Mediterranean countries (Morocco, Tunisia, Egypt, Jordan and Lebanon), the EBRD expects a slight rise in growth in 2020 (+3.8%) “under the effect of a strengthening of growth outside agriculture, after a slowdown to 3.1% in 2018”. The performance of the Moroccan economy, however, remains below the regional average: +4.6% in 2019 and +5.1% in 2020.

In Morocco, “the likely recovery will reflect improved fiscal management and economic diversification of agriculture,” says the EBRD, noting that this recovery will also result from rising tourism arrivals, FDI, expansion automotive and aerospace industries and increased mining capacity.

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