Download or read book Morocco 2021 Article IV Consultation Press Release and Staff Report written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-09 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thanks to a successful vaccination campaign, COVID19 cases have declined sharply in 2021, and the Moroccan economy is rebounding. Economic activity has recovered most of the ground lost with the severe recession of 2020 and is expected to grow at 6.3 percent in 2021. Among the factors propelling the rebound are the exceptional harvest after two years of drought, continued fiscal and monetary stimulus, and the persistent buoyancy of remittances. Going forward, Morocco’s growth is expected to remain at about 3 percent, assuming the acceleration of new cases in early 2022 proves transitory and the effects of the pandemic on activity gradually fade. Recent inflationary pressures remained manageable and are expected to wane in 2022, as cost pressures from global and domestic supply disruptions are reabsorbed. After its sharp contraction in 2020, the current account deficit is projected to widen in 2021 and over the medium term, but Morocco emerges from the pandemic with a much stronger international reserve position.
Download or read book Morocco written by International Monetary and published by International Monetary Fund. This book was released on 2023-01-24 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the authorities’ very strong policy response, another drought and the economic spillovers from Russia’s invasion of Ukraine have taken a toll on Morocco’s economy and ignited inflationary pressures. Assuming a return to normal agricultural seasons, stabilization of external economic conditions, and continued progress on the authorities’ rich structural reform agenda, economic activity should rebound in 2023 and stabilize around 31⁄2 percent over the medium term. Inflation is projected to have peaked in 2022 and to start falling in 2023 as the commodity price shock dissipates and the central bank reduces monetary policy accommodation. The negative terms-of-trade shock widened the trade deficit in 2022, but Morocco’s external position is projected to improve from 2023 onwards, also thanks to strong remittances and tourism inflows.
Download or read book Morocco written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Morocco written by International Monetary Fund. and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Morocco written by and published by . This book was released on 2004 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Morocco Staff Report for the Article IV Consultation written by and published by . This book was released on 2008 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Morocco 2021 Article IV Consultation Press Release and Staff Report written by International Monetary and published by International Monetary Fund. This book was released on 2022-04-27 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thanks to a successful vaccination campaign, COVID19 cases have declined sharply in 2021, and the Moroccan economy is rebounding. Economic activity has recovered most of the ground lost with the severe recession of 2020 and is expected to grow at 6.3 percent in 2021. Among the factors propelling the rebound are the exceptional harvest after two years of drought, continued fiscal and monetary stimulus, and the persistent buoyancy of remittances. Going forward, Morocco’s growth is expected to remain at about 3 percent, assuming the acceleration of new cases in early 2022 proves transitory and the effects of the pandemic on activity gradually fade. Recent inflationary pressures remained manageable and are expected to wane in 2022, as cost pressures from global and domestic supply disruptions are reabsorbed. After its sharp contraction in 2020, the current account deficit is projected to widen in 2021 and over the medium term, but Morocco emerges from the pandemic with a much stronger international reserve position.
Download or read book Morocco written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2019-07-16 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation with Morocco discusses that gradually increasing growth, moderate inflation, and stronger external and fiscal buffers are expected over the medium term, benefiting from sustained reform implementation. However, this outlook remains subject to significant domestic and external risks: delays in implementing reforms, lower growth in key partner countries (particularly in the euro area), higher oil prices, geopolitical risks, and volatile financial conditions could weaken Morocco’s resilience and economic prospects. Building on progress achieved in recent years, further fiscal and structural reforms are needed to consolidate gains in macroeconomic resilience and achieve higher and more inclusive growth. The discussions mainly focused on strengthening the resilience of the economy through continued fiscal reforms, greater exchange rate flexibility, and strengthened financial sector soundness. It also highlighted the need for pushing ahead with mutually-reinforcing and properly sequenced reforms to raise growth and inclusion, including by improving public sector governance, promoting private sector development, and reducing inequalities.
Download or read book Morocco written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2014-03-06 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses Morocco’s 2013 Article IV Consultation on economic developments and policies. The IMF report highlights that despite unfavorable external and domestic environment Morocco’s economic performance has improved during 2013. The Morocco’s economy remains vulnerable to international conditions and a difficult regional environment. It focuses on the importance of giving more flexibility in the exchange rate regime that intends to support competitiveness, enhance the capacity of the economy to absorb shocks, and support the authorities’ strategy for diversifying external flows away from Europe.
Download or read book Morocco written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2017-02-03 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2016 Article IV Consultation highlights that Morocco’s macroeconomic conditions have improved since 2012, but growth has remained sluggish. In 2016, growth slowed owing to a sharp contraction in agricultural output and subdued nonagricultural activity. The unemployment rate decreased to 9.6 percent in the third quarter of 2016 while youth unemployment remains high at 21.8 percent. Morocco’s medium-term prospects are favorable, with growth expected to rebound to 4.4 percent in 2017 and reach 4.5 percent by 2021. However, risks remain substantial, and relate mainly to growth in advanced and emerging market economies, geopolitical tensions in the region, world energy prices, and global financial market volatility.
Download or read book Morocco written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2018-03-12 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2017 Article IV Consultation highlights that economic growth in Morocco has picked up in 2017 and is expected to reach 4.4 percent, mostly driven by a significant rebound in agricultural activity while nonagricultural activity remains subdued. The unemployment rate increased to 10.6 percent in Q3:2017 (year-over-year) while youth unemployment remains high at 29.3 percent. Headline inflation (year-over-year) is expected to decline to 0.6 percent in 2017, reflecting lower food prices. Following a marked deterioration in 2016, the current account deficit is projected to improve in 2017 to 3.9 percent of GDP. This primarily reflects Morocco’s global environment, particularly the stronger recovery in Europe, and strong export growth, mostly owing to the good performance of food product and phosphate and derivatives exports.
Download or read book Morocco written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2015-02-23 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2014 Article IV Consultation highlights that Morocco has made important strides in maintaining macroeconomic stability in a difficult environment, but challenges remain to reduce fiscal and external vulnerabilities, strengthen growth, create jobs, and tackle poverty. Growth slowed in 2014 as a result of a contraction in agricultural activity following an exceptional 2013 crop and weak demand from Europe. However, growth is expected to rebound in 2015 to about 4.4 percent and remain robust in the medium term as external demand and domestic confidence strengthen. Executive Directors have commended the authorities for their strong policy actions, which have reduced economic vulnerabilities.
Download or read book Morocco written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2021-03-01 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: As in many other countries in the world, the pandemic has exerted a heavy toll on Morocco’s population. Its economy has also been hit by a severe drought that affected agriculture output. The authorities’ prompt response has helped contain the social and economic damage from the shocks but could not avoid a severe contraction of GDP. The loss of tax revenues deteriorated the fiscal position, while the fall in tourism receipts widened the current account deficit. However, greater access to external borrowing, including the full drawing of the IMF Precautionary and Liquidity Line (PLL) arrangement, has helped maintain international reserves at adequate levels so far in 2020. A gradual economic recovery is expected to begin in 2021, assuming the impact of the drought and the health crisis wane next year. The recent rise in COVID-19 cases, both in Morocco and its main trading partners, suggests that this outlook remains subject to significant downside risks.
Download or read book Morocco written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2016-02-08 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2015 Article IV Consultation discusses key issues related to the economic growth of Morocco. The macroeconomic situation of Morocco continues to improve. Although growth is recovering and should reach 4.7 percent in 2015, nonagricultural activity remains sluggish and inflation remains low. In 2016, growth will be affected by a base effect following the very good 2015 agricultural season, but a gradual recovery is expected in 2017. Although recent policy action and a more favorable external environment have yielded macroeconomic improvements, the reform needs to be maintained to secure longer-term stability and raise growth potential. Much remains to be done to secure higher and more inclusive growth.
Download or read book Morocco written by International Monetary Fund and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Morocco written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-09-20 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2007 Article IV Consultation highlights that macroeconomic conditions of Morocco remain strong. Average growth has reached 5.4 percent per year since 2001, 3.4 percentage points higher than in the 1990s, reflecting the ongoing diversification of the nonagricultural sector and its increased resilience to shocks. As a result, real per-capita income is on the rise and the unemployment rate has started to decline. The current account is expected to record its seventh consecutive surplus in 2007, thanks to strong remittances and tourism receipts. The public finance situation has also strengthened.
Download or read book Morocco written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2015-02-23 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2014 Article IV Consultation highlights that Morocco has made important strides in maintaining macroeconomic stability in a difficult environment, but challenges remain to reduce fiscal and external vulnerabilities, strengthen growth, create jobs, and tackle poverty. Growth slowed in 2014 as a result of a contraction in agricultural activity following an exceptional 2013 crop and weak demand from Europe. However, growth is expected to rebound in 2015 to about 4.4 percent and remain robust in the medium term as external demand and domestic confidence strengthen. Executive Directors have commended the authorities for their strong policy actions, which have reduced economic vulnerabilities.
