Morocco’s economic growth is expected to reach 3.5% this year and 3.7% in 2024, according to World Bank forecast published in its latest World Economic Outlook Update.
In Morocco, growth is expected to accelerate to 3.5% in 2023 (lower than previous projections) and 3.7% in 2024, as the agricultural sector gradually recovers from last year’s drought, the Washington-based international financial institution said.
In its update of Morocco’s economic outlook, the World Bank also notes that public spending is expected to partially offset the weakness of household consumption due to high inflation.
In the Middle East and North Africa (MENA) region, growth is expected to slow to 3.5% in 2023 and 2.7% in 2024.
In its analysis, the World Bank points out that the region remains marked by widely divergent economic conditions and growth trajectories, high levels of poverty and unemployment in many countries, low labor productivity growth, high vulnerabilities, and fragile political and social contexts.
It added that rising inflation and tighter financial conditions have weighed on the economies of net oil importers.
Year-on-year consumer price inflation reached double digits last year in many countries that experienced significant exchange rate depreciation and sharp increases in food and energy prices.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.