The World Bank has delivered its growth prospects for the year 2020. The Bretton Woods institution thus expects growth of 3.5% in the national economy, or 0.8 points more than estimated for the past year. In 2021, growth should slightly recover to reach 3.6% and 3.8% in 2022. These estimates were released on Wednesday in the “World Economic Outlook”.
“The favorable tourist activity continues to support the growth of oil importers, such as Morocco and Tunisia. However, agricultural production has become less favorable and has weighed on activity in Morocco,” notes the World Bank. The institution also highlights the reduction by Morocco of the tax burden on petroleum product subsidies, “while avoiding serious negative consequences on poverty and inequality”.
Overall, “the global economy is ready for a slight rebound this year, but the prospects are fragile,” said the institution, which believes that the growth of emerging and developing economies should accelerate in 2020, as some emerging economies recovering from periods of stress. However, the institution stresses, “increasing debt and slowing productivity pose challenges to policymakers”.