Morocco’s economic growth is expected to reach 3.4% in 2023-2024, the African Development Bank (AfDB) predicts.
In North Africa, growth should increase from 4.1% in 2022 to 4.6% in 2023, driven mainly by the economic recovery in Morocco, which will record a growth of 3.4% in 2023-2024,” said the report of the African Economic Outlook 2023, published by the AfDB, on the sidelines of the 58th Annual Meetings of the Bank, held in Sharm el-Sheikh.
The AfDB also expects inflation to average 4.5% during the same period (2023/2024), estimating that the current account deficit should reach 4.2%.
In Africa, economic growth should rebound to 4% in 2023 and consolidate at 4.3% in 2024, the report said.
The 58th meetings are marked by meetings of AfDB Group governors to consider how to more robustly mobilize the private investment Africa needs to meet its urgent climate change adaptation and mitigation objectives.
The Annual Meetings are the AfDB’s most important event. They bring together about 3,000 delegates and participants each year.