The High Commission for Planning (the official body of statistics in Morocco) said the growth rate will be 2.7%. For its part, the International Monetary Fund (IMF) has assured, in a report, that the trade deficit in Morocco will reach 5.4% of GDP because of the high bills for the import of energy and processing materials.
However, the IMF report has forecast an increase in the growth rate to reach 4.5% by 2024. The IMF explained that this improvement remains despite everything linked to internal and external threats especially with regard to the postponement implementation of the reforms.
The IMF has called on the Moroccan authorities to pursue reforms to reduce the public budget deficit and move towards a more flexible regime for the price of the national currency. Recall that in 2018, Morocco began to apply new pricing of its currency against the euro and the dollar.
In the same report, the IMF pointed out that the unemployment rate is still around 10%, which means that the government must absolutely look into a real education reform in order to resolve this problem in depth.
At the end of 2018, the IMF made Morocco benefit from the “liquidity and prevention line” program; a two-year, three billion dollar program.
This program represents a guarantee on the part of the countries which suffer from economic problems for the international markets. Generally, the beneficiary countries of this program do not need to lend these sums.
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