Economy & BusinessMorocco: IMF forecasts 3% growth in 2023

Morocco: IMF forecasts 3% growth in 2023


The Moroccan economy should record a growth rate of 3% in 2023, according to the International Monetary Fund (IMF).

In its report on the “World Economic Outlook” published Tuesday, the IMF anticipates a growth of 3% for Morocco in 2023 and 3.1% in 2024.

The Bretton Woods institution also forecasts a drop in unemployment from 12.9% in 2022 to 11% this year before a further decline to 10.5% in 2024.

Inflation is expected to reach 4.6% this year before falling to 2.8% in 2024.

Morocco’s current account balance is expected to fall from -4.3% in 2022 to -3.7% in 2023 and then to -3.5% in 2024, according to the report released on the occasion of the IMF-World Bank spring meeting in Washington.

Globally, growth is expected to be 2.8% this year before rising slightly to 3% in 2024.

Global inflation will fall, albeit more slowly than initially expected, from 8.7% in 2022 to 7% this year and 4.9% in 2024, the same source said.

The Moroccan Blog
The Moroccan Blog
The Moroccan Blog is an English based newsblog dedicated to Morocco. You can find here all news from Morocco across a variety of topics: Arts & Culture, Economy & Business, Lifestyle, Moroccan Sahara, MRE, Society, Tourism & Travel and more.

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