Morocco’s economy is expected to grow at 4.5 percent in 2021, according to the International Monetary Fund

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The latest World Economic report from the International Monetary Fund (IMF) has been released. The Moroccan economy is expected to grow at a 4.5 percent annual rate in 2021, according to the report. According to the financial institution’s projections, the Kingdom will grow at a rate of 3.9 percent in 2022.

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.

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


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