AfDB announces forecast for Morocco

According to the African Development Bank (AfDB), real GDP growth in Morocco is expected to reach 4.5% in 2021.

“Real GDP growth is expected to reach 4.5% in 2021 as the economy recovers from a major recession and agriculture returns to good growth,” Afrub said in its annual report “Economic Outlook in Africa”.

The Pan-African Financial Institution said that exports of auto parts as well as phosphates and derivatives during the third quarter of 2020 have accelerated and are expected to strengthen further in the near term as global demand increases. The lethargy of tourism, hotels and catering sectors that should continue ”.

Consequently, the current account deficit and the budget deficit are expected to reduce and inflationary pressures are expected to persist. The ADB also states that “the mission is entrusted to the Special Commission to promote inclusive growth to revive the development model” appointed by King Mohammed VI.

On another note, the report states that in 2020, Morocco quickly received emergency funding from the Donor, including US $ 3 billion from the International Monetary Fund and US $ 460 million from the ADB, to mitigate the effects of the pandemic. for.

In September 2020, Morocco also issued a € 1 billion bond. These financial contributions made it possible to strengthen the foreign exchange reserves, representing about three times the debt due to imports and short-term of about 8.1 months.

MS (with MAP)

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