In its report released on Monday, the World Bank reviewed its outlook for Morocco. Due to the pandemic and drought, the institution expects the country’s real GDP to contract by 6.3% in 2020 and extreme poverty to increase slightly.
Arrears, cash flow issues and business failure are all problems haunting Moroccan companies struggling to reach balance amid the Covid-19 crisis. While all eyes are on the State, relaunching national economy can’t be done without supporting local businesses.
According to a recent report by the World Bank, Covid-19 is pushing Morocco’s economy into a severe recession, the first one since 1995.