IMF predicts 4.5% growth in Morocco’s economy in 2021

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. In its latest semi-annual report on the Outlook for the World Economy, published on Tuesday, the IMF forecasts growth of 3.9% for 2022, MAP reports.

This recovery forecast for 2021 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 lower than the 5, 3% announced by the Governor of Bank Al . -Mehrib during the last council of this institution on 23 March 2021. The latter is particularly better than the expected agricultural season and favorable progress of the vaccination campaign against Covid19.

The Bretton Woods institution, on the other hand, insists that unemployment should be 10.5% in 2021, down from 11.9% in 2020, to 9.7% in 2022. Regarding inflation, it was revised for 2020, to 0.6% as against 0.2%. The latest version of the report published in October. 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% in 2021 after a contraction of 3.3% in 2020, “thanks to the additional budget support in some large economies and the expected recovery in the second half of the year, the vaccine,” the IMF said. The IMF forecast an increase of 4.4% in 2022, 0.2% higher than the January forecast.

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