October 15, 2020 – 21:00 – Economy
The Moroccan economy is doing less well than was thought at the beginning of this year. The International Monetary Fund (IMF) this month released a report with forecasts for the coming year. In February, the IMF was still optimistic about the prospects for Morocco.
The IMF foresees that Morocco will enter a recession. It expects a 7% contraction in gross national product (GNP) in 2020, exceeding the contraction expected in projections from Bank Al-Maghrib and the Moroccan government.
According to IMF forecasts, Moroccan GDP will shrink by 4.9% in 2021 and by 3.7% in 2022. In terms of inflation, it will be limited to 0.2% in 2020 and 0.8% in 2021. The unemployment rate is expected to fall to 12.5% in 2020. A 10.5% decrease in unemployment is expected by 2021 .
For the world economy, the IMF expects a decline of 4.4% in 2020 and a recovery in 2021 with growth of 5.2%. “The global economy is recovering from the deep trough it entered following April’s lockdown measures. As the Covid-19 pandemic continues to spread, many countries have delayed reopening and some have reintroduced partial curtailments protect the endangered population, ”the same report says.
The IMF expects China to recover faster than the rest of the world. For the global economy as a whole, it will take longer before figures can be seen again, as was the case before the pandemic, the fund reports.
*The article has been translated based on the content of Source link by https://www.bladna.nl/imf-marokkaanse-economie-coronavirus,31998.html
. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!
These were the details of the news IMF pessimistic about the Moroccan economy for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at news1.news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.