IMF predicts 4.5% growth in 2021 in Morocco

According to new estimates by the International Monetary Fund (IMF), the Moroccan economy is expected to register a growth rate of 4.5% in 2021.

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In its latest semi-annual World Economic Outlook report published on Tuesday, April 6, IMF growth is projected 3.9% for 2022.

This 2021 recovery forecast is lower than the 5.2% announced by the Minister of Economy, Finance and Administrative Reforms during the last Economic Monitoring Committee on April 2, 2021, and the 5, 3% announced by the Governor of Bank Al last council of March 23, 2021 Maghrib during. The latter is particularly better than the expected agricultural season and is a favorable progression of the vaccination campaign against Kovid-19.

The Bretton Woods institution, on the other hand, insists that unemployment should be lower at 10.5% in 2021, down from 11.9% in 2020, compared to 9.7% in 2022.

Regarding inflation, the latest version of the report published in October revised it to 0.6% by 2020 from 0.2%. According to the Washington-based financial institution, for 2021, it should stand at 0.8% before climbing to 1.2% in 2022.

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

Globally, growth is expected to reach 6.3% in 2021, after contracting -3.3% in 2020, “with recovery expected in the second half of the year due to additional budget support and vaccines in some large economies,” the I.M.F. he said.

The IMF forecast an increase of 4.4% in 2022, 0.2% higher than the January forecast.

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April 07, 2021
16:24

Revised 0. Avil 2021 On 16:24

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