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IMF predicts 5.7% growth for Morocco

The International Monetary Fund (IMF) has revised upwards its growth forecasts for Morocco in 2021, now estimated at 5.7% against 4.5% previously.

In its semi-annual report, the International Monetary Fund (IMF) revised upwards its forecasts for the Moroccan economy. Growth is expected to reach 5.7% against 4.5% previously anticipated. A growth rate indicated as the most robust of the countries in the Middle East North Africa region.

The Bretton Woods institution emphasizes, on the other hand, that this post-Covid recovery of the kingdom should “strengthen” thanks to the recovery of exports, the good performance of the agricultural sector and the results of the policies implemented to fight the pandemic and speed up vaccination.

“This recovery will strengthen in the future because the figures show that the growth of exports is strong, that the agricultural sector, which represents an important activity in Morocco, finds a solid recovery this year but also, that the capacity of the Moroccan economy to resume normal activity is materializing,” indicated Jihad Azour in Washington.

In addition, the consumer price index will stand at 1.4% in 2021 and 1.2% in 2022, respectively, according to the same projections. Morocco’s current account balance stands at −3.1% in 2021 and −3.3% in 2022.

At the regional level, a “fragile recovery” is expected with a real GDP increase of 4.1% in 2021 and 2022.

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