The IMF: The Moroccan economy should grow at 4.5% in 2021

The International Monetary Fund (IMF) has released its latest semi-annual World Economic Outlook report. It shows that the Moroccan economy should register a growth rate of 4.5% in 2021.

In its projections, the financial institution anticipates growth of 3.9% for 2022 for the Kingdom.

This 2021 recovery forecast remains lower than that of 5.2% announced by the Minister of the Economy, Finance and Administrative Reform during the last Economic Watch Committee of April 2, 2021, and that of 5 , 3% announced by the Governor of Bank Al-Maghrib during the last council of this institution on March 23, 2021.

The latter take into account in particular a better than expected agricultural season and the favorable progress of the vaccination campaign against Covid-19.

The Bretton Woods institution emphasizes, on the other hand, that unemployment should stand at 10.5% in 2021, down from 11.9% in 2020, against 9.7% in 2022.

Regarding inflation, it has been revised upwards for 2020 to 0.6% against 0.2% in the latest version of the report published in October. For 2021, it should stand at 0.8% before climbing to 1.2% in 2022, according to the Washington-based financial institution.

Morocco’s current account balance stands at -2.2% in 2020, -3.8% in 2021 and -4% in 2022, according to the IMF’s semi-annual report.

Globally, growth is expected to reach 6% in 2021 after a contraction of -3.3% in 2020, “reflecting additional budgetary support in a few large economies and the recovery expected in the second half of the year thanks to vaccines,” the IMF said. .

The IMF forecasts growth of 4.4% in 2022, up 0.2% from its January forecast.

READ  ONP: Coastal and artisanal fishing landings down 78% at the port of Essaouira

Back to top button