Morocco’s economy is expected to recover by 5% in 2021, according to the latest Regional Economic Prospects report of the European Bank for Reconstruction and Development (EBRD), published Thursday.
Morocco’s economy will achieve a growth of 3.2% in 2022, the Bank points out.
“This reflects the relative success of Morocco’s vaccination campaign and therefore a relatively faster reopening of the economy, despite a cautious resumption in tourism globally,” it says.
The economy will benefit from a good rainy season and the expected recovery in Europe, Morocco’s main trading partner, as well as the strengthening of exports from the phosphate and automotive sectors, the source underlines.
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