IMF Gives Morocco Positive Outlook for 2023

The International Monetary Fund (IMF) anticipates Morocco’s economy to rebound starting this year by 3.5% over the medium term, thanks to tourism inflows and remittances.
The stabilization of the economy is highly dependent on the return to normal agricultural seasons, the stabilization of external economic conditions, in addition to ongoing progress on the government’s extensive structural reform agenda and its strong policies to face the global crisis.
As the impact of the spike in commodity prices subsides and the central bank loosens monetary policy, the IMF forecasts that inflation will start falling in 2023 after its peak last year.
Morocco’s trade deficit widened, in 2022, due to the negative terms-of-trade shock.
However, Morocco’s external position is projected to improve from 2023 onwards.