Good prospects of economic recovery for Morocco one year after pandemic

Good prospects of economic recovery for Morocco one year after pandemic

RABAT – Morocco's economic recovery is outpacing that of nations across Africa and Latin America according to new data from Bloomberg. The financial data company  on Wednesday released its Economics Rankings which evaluates the economic recovery of 75 emerging market economies.

According to this analysis, the Moroccan government's measures adopted since the outbreak of the coronavirus pandemic, including stimulus packages and monetary policies, have  contributed significantly to the softening of the pandemic's economic impact.

Bloomberg researchers expect the Moroccan economy to overcome the effects of the health crisis, projecting a 4% to 5% recovery during the current year. This comes after much economic activity ground to a halt in 2020, leading to a drop in gross domestic product of more than 5% .

In its latest semi-annual report on the global economic prospects released this week, the International Monetary Fund (IMF) predicted that the Moroccan economy will grow by 4.5 % in 2021 and about 3.9 % in 2022.

In its outlook at the regional level, the IMF estimates that a year after the start of the coronavirus pandemic, the path to economic recovery in 2021 should be “long and differ from one country to another”.

The report concluded “the outlook will vary considerably depending