Central Bank Governor Abdellatif Jouahri presented this positive outlook to King Mohammed VI on Monday, commending the government’s swift response to the earthquake crisis through the establishment of a dedicated disaster relief fund.
While inflation peaked at 10.1% in February, it has since eased to an annual average of 6.1%, and the current account deficit has been contained to 0.6% of GDP. However, the job market remains a challenge, with 157,000 positions lost, primarily in agriculture due to adverse weather and earthquake impacts.
The governor emphasized the government’s fiscal discipline, reducing the budget deficit to 4.4% of GDP. Morocco’s strategic positioning and ongoing reforms have solidified its status as an attractive investment destination, as evidenced by hosting the World Bank and IMF annual meetings last October.
Looking ahead, Jouahri outlined key priorities: fostering social dialogue, implementing pension reforms, transitioning to a green economy, developing digital infrastructure, and creating a conducive environment for fintech innovation. Public-private partnerships, foreign investment, macroeconomic stability, human capital development, and improving the business climate are essential to achieving these goals.
MN/sf/ac/lb/abj/APA