Home / Banking / IMF maintains growth forecast for Morocco at 3.2% in 2019

IMF maintains growth forecast for Morocco at 3.2% in 2019

The International Monetary Fund (IMF) estimates that the Moroccan economy should grow by 3.2% in 2019 against 3.1% in 2018.

In its report on the outlook for the global economy, released Tuesday in Washington, the IMF forecasts growth of 3.8% in 2020.

Regarding the unemployment rate, the institution of Bretton Woods expects a decrease to 9.2% in 2019 and 8.9% in 2020 respectively.

Globally, the IMF expects economic growth of 3.3% in 2019, compared to 3.6% in 2018, down 0.4 points from the Fund’s October 2018 forecast.

About 70 percent of the world economy is affected by this slowdown, said IMF chief economist Gita Gopinath, citing the United States, the Euro zone, the United Kingdom, Japan, Canada, America Latin America and the Middle East / North Africa (MENA) region.

The IMF expects this year a 1.3% growth, for the MENA region down 0.9% from its projections in January, mainly due to the slowdown in oil growth and unrest in the region.

The economy of the region is expected to recover in 2020 with healthy growth of 3.2%, according to the IMF.

The euro zone would grow 1.3% in 2019, after 1.8% last year, said the Fund which expected a rate of 1.6% in its forecast of January.

Consumer and business confidence weaken, and car production in Germany is disrupted by the introduction of new emission standards; Investment has fallen in Italy with the expansion of its sovereign debt and external demand, especially from emerging Asia, has eased, says the international financial institution.

In the United States, where growth is expected to fall to 2.3% (-0.2 points) after 2.9% last year, the IMF notes that the effects of measures to stimulate the economy are fading, while budget expenditures are smaller than expected.

Check Also

The Israeli company NewMed Energy will look for gas in southern Morocco

The Israeli company NewMed Energy announced the signing of a memorandum of understanding for the …

Leave a Reply