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Thursday, May 30, 2024

Morocco’s Economy Expected to Grow by 3% in 2023, 3.1% in 2024 (IMF)

 Morocco’s economy is expected to grow by 3% in 2023, according to the International Monetary Fund (IMF).

The kingdom’s GDP is expected to increase by 3% in 2023 and by 3.1% in 2024, said the IMF in its “World Economic Outlook” report, published Tuesday.

Inflation is expected to reach 4.6% this year before falling to 2.8% in 2024, the source added.

The unemployment rate in Morocco would reach 11% this year and 10.5% in 2024, the report pointed out.

The current account balance is expected to decline by 3.7% in 2023 and by 3.5% in 2024, the source added.

Global growth will bottom out at 2.8% this year before rising modestly to 3% in 2024. Global inflation will decrease, although more slowly than initially anticipated, from 8.7% in 2022 to 7% this year and 4.9% in 2024.

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