IMF Revises Its Forecasts Upwards For The Moroccan Economy

Rabat, Oct 14 (TNA) The International Monetary Fund (IMF) has revised upwards its growth forecasts for Morocco in 2021, and now expects a rate of 5.7% compared to the 4.5% initially announced.

It is one of the most robust growth rates in the Middle East and North Africa region in the current context marked by the effects of the Covid-19 pandemic. In its "Global Growth Forecast", published at the Autumn Meetings, the IMF also anticipates a growth rate of 3.1 in 2022 compared to 3.9 forecast in its latest report.

The institution also stresses that unemployment is expected to rise to 12% in 2021 before falling slightly to 11.5% next year. For its part, the consumer price index will be 1.4% in 2021 and 1.2% in 2022, respectively, according to the same projections. Morocco's current account balance is -3.1% in 2021 and -3.3% in 2022, according to the IMF's semi-annual report.

At the global level, the international institution slightly lowered its growth projections, now expecting 5.9% this year and 4.9% in 2022, while noting the short-term persistence of the pandemic's repercussions and its divergent effects.