Morocco’s economy is expected to grow by 2.4% in 2023, according to the International Monetary Fund (IMF).
The kingdom’s GDP is forecast to increase by 3.6% in 2024, said the financial institution in its “World Economic Outlook” report, published Tuesday on the occasion of the Annual meetings of the IMF and the World Bank held in Marrakech.
Inflation is projected to reach 6.3% this year before falling to 3.5% in 2024, the Washington-based institution added.
The unemployment rate in Morocco would reach 11.8% this year and 12% in 2024, the report pointed out, noting that the current account balance is expected to decline by 3.1% in 2023 and by 3.2% in 2024.
Growth in the region of the Middle East and North Africa (MENA) is forecast to slow from 5.6% in 2022 to 2% in 2023 before rebounding to 3.4% in 2024, according to the IMF.
For its part, global growth is forecast to slow from 3.5% in 2022 to 3% in 2023 and 2.9% in 2024.