The International Monetary Fund (IMF), headed by Christine Lagarde, published today the results of its bilateral consultations with Morocco.
The international monetary body said that “Morocco has made important strides in maintaining macroeconomic stability in a difficult environment, but challenges remain to reduce fiscal and external vulnerabilities, strengthen growth, create jobs and tackle poverty.”
The IMF stressed that the “Growth slowed in 2014 as a result of a contraction in agricultural activity following an exceptional 2013 crop and weak demand from Europe.”
The IMF expects the growth to rebound “in 2015 to about 4.4 percent and remain robust in the medium term as external demand and domestic confidence strengthen.”
“Inflation has remained low and the financial sector remains sound. The 2014 current account deficit narrowed to an estimated 5.8 percent of GDP due to booming exports from newly developed sectors and lower oil prices,” the IMF further noted.
“International reserves increased to above 5 months of imports. The 2014 fiscal deficit was also reduced to 4.9 percent of GDP,” the leading monetary body added.
The Moroccan Times.
