In its latest released report, the IMF cut down the early growth forecasts it projected for Morocco to 3.5 per cent from 3.9 per cent in 2014 and 4.7 per cent from 4.9 per cent in 2015.
A statement from the fund said that “the ongoing implementation of structural reforms [in Morocco] is beginning to bear fruit, and growth is expected to pick up in 2015. Private investment is expected to strengthen with increased confidence, rising tourism receipts, and stronger export performance.”
The forecasts come hand in hand with Christine Lagarde’s forecast last May, at the conclusion of her visit to Morocco when she said that “we project growth will fall below 4 percent in 2014 as agriculture production returns closer to normal levels and non-agricultural activity picks up, drawn by the recovery in Europe,” adding that “the current account deficit is expected to contract further as a result of continued policy action, lower global energy prices, and exports from newly developed sectors (e.g. car and aeronautics industries).”
The Moroccan Times.
