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IMF predicts 6.3% growth in 2021 for Morocco

Morocco’s gross domestic product (GDP) is expected to grow by 6.3% in 2021, one of the highest rates in the Middle East and North Africa region, said the chief of mission of International Monetary Fund (IMF) for Morocco, Roberto Cardarelli.

“After a contraction of 6.3% in 2020, the GDP should grow by 6.3% in 2021”, underlined Mr. Cardarelli during a press conference devoted to the presentation of the main conclusions of the annual mission led by staff to assess the country’s economic policy and outlook.

“Thanks to a particularly effective vaccination campaign and the rapid response of the authorities, the health crisis has been brought under control and the Moroccan economy is recovering”, he observed, noting that the latter has almost regained the lost ground during the severe global recession of 2020 which did not spare the Moroccan economy.

This performance is explained by the maintenance of budgetary and monetary stimulus measures, by the good performance of the main exporting sectors, by the dynamism of transfers from Moroccans living abroad as well as by the exceptional harvest which followed two years of drought.

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