Morocco’s economy is expected to grow from 1.3 percent in 2022 to 2.4 percent in 2023 before recovering to 3.6 percent in 2024, according to the International Monetary Fund (IMF).
The inflation rate is expected to fall from 6.6 percent in 2022 to 6.3 percent in 2023 and then to 3.5 percent in 2024, according to the IMF’s World Economic Outlook report, published on the occasion of the annual meetings of the IMF and the World Bank in Marrakech.
The balance of payments is also expected to deteriorate from -3.5 percent in 2022 to -3.1 percent in 2023 and finally to -3.2 percent in 2024, according to this international financial institution.
Morocco’s unemployment rate is expected to rise slightly from 11.8 percent in 2022 to 12 percent in 2023, before returning to 11.7 percent in 2024, according to the Washington-based institution.
In the Middle East and North Africa (MENA) region, growth is expected to fall from 5.6 percent in 2022 to 2 percent in 2023 before recovering to 3.4 percent in 2024, according to IMF.
In addition, global economic growth is expected to slow from 3.5 percent in 2022 to 3.0 percent in 2023 and then to 2.9 percent in 2024.
Global growth is expected to slow from 3.5 percent in 2022 to 3 percent in 2023 and then to 2.9 percent in 2024, according to the IMF, which forecasts a “slow and uneven” recovery.
These forecasts remain below the historical average (2000-2019) of 3.8 percent, and the figures for 2024 are 0.1 percentage points lower than those in the July 2023 update of the World Economic Outlook, the international financial institution said.
HA/lb/abj/APA