Morocco’s GDP growth is expected to rise from 2.8% last year to 3.1% in 2024 and further to 3.3% in 2025.
These projections align with the findings from the Kingdom’s economic status report published last November, emphasizing Morocco’s consistent ability to effectively respond to economic shocks.
The data’s upgraded predictions for the Middle East and North Africa (MENA) area highlight growth progression in particular economies, including Djibouti, Morocco, and Tunisia. However, it expresses concern about the “uncertainties” surrounding the Middle East crisis and their potential to influence both the regional and global economies.
According to the World Bank, if the conflict does not intensify, the MENA region’s overall GDP should rebound by 3.5% in 2024 and 2025.
Yet, the organization warns that escalation of the conflict, specifically with respect to the potential repercussions for neighboring economies–along with the influx of migrants–pose serious threats to regional growth.
The forecast also highlights MENA countries’ vulnerability to natural disasters and climate change.
On an international level, the Washington-based banking group anticipates for 2024 a third consecutive year of reduced growth rates, slowing to 2.4%, down from 2.6% previously.