IMF : Morocco's economic growth to reach 4.8% in 2017

Morocco’s economy to grow in 2017 reaching 4.8 compared to 4.4% scored in the last 6 months, said the International Monetary Fund, an organization that fosters global monetary cooperation, secures financial stability, facilitates international trade, promotes high employment and sustainable economic growth, and reduces poverty around the world.

In its latest biannual report on the world economic outlook published Tuesday in Washington, the Bretton Woods institution has also lowered its forecast of 3% GDP growth for 2018 to 3% projected in its April estimates, before returning to a steady upward trend to reach 4% in 2019 and 4.5% in 2022.

For the Consumer Price Index, the IMF forecasts a decline of 1.2 pc to 0.9 pc in 2017, and a slight increase of 1.5 pc to 1.6 pc in 2018, respectively compared to the April 2017 forecast. On the current account, the IMF projections forecast an increase to -4.0 pc and -2.9 pc, respectively in 2017 and 2018, compared to -2.6 pc and -2.0 pc, provided for in the April report.

Moreover, the Fund maintains its forecasts of unemployment growth of 9.3 pc and 9.5 pc respectively for 2017 and 2018 unchanged.

For the Bretton Woods institution, stronger medium-term growth depends on the sustained implementation of comprehensive reforms, including labor market participation, market efficiency, access to finance, the promotion of quality education, the efficiency of public expenditure and the constant improvement of the business climate.