Morocco’s economic growth is expected to pick up gradually and average 3.3 over 2020–2021, mainly driven by more dynamic secondary and tertiary activities, bolstered by high foreign investments, according to the World Bank forecast. Thanks to sound monetary policy and ample supply of fresh food, inflation is projected to average around 1 pc over the medium-term while the unemployment rate will slightly decline in 2019, adds the World Bank report. Morocco’s Non-agricultural growth will improve (3.4 pc in 2019 compared to 3 pc in 2018), driven by better performance of phosphates, chemicals, and textiles output. According to the World Bank Outlook, private consumption will contribute the most to growth, boosted by higher salaries and low inflation. Subsidy policy will continue, especially for LPG (Liquefied petroleum gas) consumption.

Source: The North Africa Journal October 12, 2019 10:30 UTC