Growth in the North Africa and Middle East (MENA) region is expected to decline from 5.4% in 2022 to 2.6% in 2023 before reaching 3.1% in 2024, according to the latest World Economic Outlook (WEO) released Tuesday by the International Monetary Fund (IMF).
This is a downward revision of growth forecasts for the MENA region compared to the April edition of the WEO.
Last April, the IMF expected growth of 3.1% in 2023 and 3.4% in 2024.
In the April edition of the WEO, the IMF indicated that the Moroccan economy should record a growth rate of 3% in 2023 and 3.1% in 2024.
The Bretton Woods institution has also forecast 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, according to the same source.