Improved fiscal management and economic diversification have strengthened the resilience of Morocco’s economy, said IMF team in a press release issued Tuesday after a visit to the North African kingdom. Growth should stabilize in 2019, supported by the recovery of non-agricultural activity, to reach 4.5 percent over the medium term with the implementation of the structural reforms. The Fund’s team supports the privatization plan and efforts to refocus public enterprises on their core business. The IMF fully supports Morocco’s financial authorities intention to gradually transition to a more flexible exchange rate regime, which should improve the economy’s ability to absorb external shocks and maintain its competitiveness. IMF Staff has completed 2019 Article IV Consultation and First Review of the Precautionary and Liquidity Line (PLL) Arrangement with Morocco.

Source: The North Africa Journal April 03, 2019 13:41 UTC