Morocco is expected to achieve a growth rate of 2.8% in 2024 and 3.6% in 2025, according to forecasts published by the International Monetary Fund (IMF) on Tuesday.
In its latest World Economic Outlook report, the IMF predicted that Morocco’s inflation will rise to 1.7% in 2024 and 2.3% in 2025.
The IMF also projected that Morocco’s unemployment rate will stay at 13.4% this year, but decrease to 12.6% by 2025, according to projections released during the annual meetings of the IMF and World Bank in Washington DC.
The IMF states that it anticipates Morocco’s current account balance will be -2.0% in 2024 and -2.3% in 2025. By 2029, however, it expects economic growth to stabilize around 3.4%, with inflation expected to drop to 2.0%.
For the Middle East and North Africa region, the IMF forecast a growth rate of 2.1% in 2024, accelerating to 4.0% in 2025. Inflation in the MENA region is anticipated to be significantly higher, ranging from 14.8% in 2024 to 11.6% in 2025.