Moroccoâs economy strengthened last year on recovery in domestic demand and exports, with growth expected to pick up to about 3.5 per cent over the medium term, boosted by stronger investment, the International Monetary Fund has said.
The fund projected that Morocco’s economy grew by 3.1 per cent in 2023, from 0.8 per cent the previous year.
Stronger domestic demand should gradually âwiden the current account deficit towards 3 per centâ of gross domestic product, while inflation is projected to âcontinue to fall slowly as pressures on commodity and food prices fadeâ, the IMF said on Wednesday, following a staff visit.
The IMF last year approved a $1.3 billion package for Morocco, after a 6.8-magnitude earthquake on September 8 â the country’s deadliest in more than 60 years â killed about 3,000 people in the North African country.
The 18-month arrangement will âhelp Morocco address climate vulnerabilities, bolster its resilience against climate…
