Lahcen Haddad: Moroccan economy to recover in 2 years

Lahcen Haddad: Moroccan economy to recover in 2 years



Rabat, Morocco (TMT)- Former Moroccan Minister of Tourism Lahcen Haddad said it will take the kingdom 2 years to reboot its economy and recover from the reverberations of the coronavirus pandemic.

The statement was made by Haddad in a live interview with Russian channel Sputnik, where he noted, among others, that Morocco would have lost DHS 80 billion by June 10.

Haddad affirmed that the economic impacts on some sectors will be staggering and long-lasting, taking more than two years to reboot.

Haddad also noted that economic growth in the short-term is difficult to forecast, especially that Morocco relies on the European market, with the European Union deemed an important economic partner for the country.

Haddad added that the quick recovery of the European market will augur well for Morocco, stressing that he predicts that some sectors will be back on their feet by the end of the year.

The Moroccan Times.