The tourism and industrial sectors in North Africa are likely to be hardest hit by the COVID-19 pandemic, according to the 2020 edition of the North Africa Economic Outlook report. The rapidity with which economic and other restrictions are being lifted in North Africa is raising uncertainty and suggests two distinct recovery scenarios. Under the first scenario, regional growth would fall by 5.2 percentage points, resulting in a decline in growth of ‑0.8%. Regarding the current account balance, North African countries recorded an average deficit of 4.4% of GDP in 2019. The report calls on North African countries to continue to implement fiscal measures to protect affected households and businesses.

Source: The North Africa Journal July 15, 2020 09:22 UTC