Economy & BusinessMorocco to experience rapid post-Covid recovery according to IMF

Morocco to experience rapid post-Covid recovery according to IMF

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Morocco is an example in the post-pandemic economic recovery according to the International Monetary Fund (IMF). The institution praised the various policies implemented by the kingdom to mitigate the effects of the crisis that shook the world economy.

Erected as a model for managing the Covid-19, in particular by its neighbors and international institutions, Morocco has not skimped on the means, in particular financial, to deal with the crisis.

In its report on the “Regional Economic Outlook”, the IMF indicated that “Morocco is one of the countries which reacted most quickly and most effectively to fight against this health crisis. Thanks to a number of fiscal, monetary and financial measures, the Moroccan economy “succeeded last year in limiting the impact of this crisis,” the institution said.

“This recovery will strengthen in the future because the figures show that the growth of exports is strong, that the agricultural sector, which represents an important activity in Morocco, finds a solid recovery this year but also, that the capacity of the Moroccan economy to resume normal activity is materializing, ”detailed Jihad Azou, director of the IMF’s Middle East and Central Asia department.

Referring to the vaccination campaign, the official clarified that Morocco is among the countries of the region which have “made good progress in their vaccination campaigns”, while recalling that at the regional level, as throughout the world, “accelerate the ‘Acquisition and distribution of vaccines remains the top priority in the short term to save lives, promote recovery and prevent the gaps from widening ”.

On the social level, “Morocco has succeeded in providing social support to more than 5 million families who are in the informal sector. Also, the acceleration of vaccination and the measures taken to limit the impact of the health crisis on the economy have enabled Morocco to achieve a rapid recovery in 2021, and growth of 5.7% is expected this year which , in fact, compensates for the contraction experienced by the Moroccan economy last year, ”he explained.

The Moroccan Blog
The Moroccan Blog
The Moroccan Blog is an English based newsblog dedicated to Morocco. You can find here all news from Morocco across a variety of topics: Arts & Culture, Economy & Business, Lifestyle, Moroccan Sahara, MRE, Society, Tourism & Travel and more.

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