info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Image from Moroccoworldnews
The Moroccan economy is expected to grow 6.3% in the remaining weeks of 2021, one of the highest rates in the Middle East and North Africa region.
Roberto Cardarelli, International Monetary Fund (IMF) mission chief to Morocco, made the announcement during a press briefing on Friday held via video conference to present the end-mission preliminary findings on the Moroccan economy.
“Recent inflationary pressures have remained manageable and are expected to wane in the medium term, as cost pressures from global supply disruptions are reabsorbed,” Cardarelli said.
He highlighted that this expected growth is due to a “successful COVID-19 vaccination campaign,” in addition to “continued fiscal and monetary stimulus, the rebound of exports, buoyant remittances, and the exceptional harvest after two years of drought.”
Cardarelli's statements confirm previous national and international reports indicating that Morocco is among the fastest growing economies in 2021.
The country leads the list of five with a predicted GDP growth rate of 5.19%, according to a recent Global Data report.
The World Bank has also said Morocco’s real GDP growth is projected to rebound to 5.3% in 2021, representing a 1.1 point increase compared to the forecast made last April.
The rebound is due to the sustainable performance of the agricultural sector, rather than a general increase of economic activity, the report noted.
Similarly, Morocco’s Higher Commission for Planning's (HCP) latest report has indicated that the 5.9% boost in the national economy for the third quarter in 2021 is mainly driven by a 19.2% increase in the agriculture sector.
