IMF: 3% Economic Growth Forecast in Morocco in 2023 

Morocco’s economy is expected to grow by 3% in 2023 and 3.1% in 2024, according to the International Monetary Fund (IMF). 

According to a report on the “World Economic Outlook” published Tuesday, on the occasion of the spring meeting of the International Monetary Fund (IMF) and the World Bank (WB) in Washington, the International Monetary Fund (IMF) expects a growth rate of 3% for the Moroccan economy in 2023. 

At the global level, growth is expected to reach 2.8% this year before increasing slightly to 3% in 2024.

The International Monetary Fund (IMF) emphasized that the unemployment rate will drop from 12.9% in 2022 to 11% this year, dropping further to 10.5% in 2024.

In a similar context, inflation is expected to hit 4.6% this year before dropping to 2.8% in 2024, while globally, inflation will fall at a slower pace than initially expected, dropping from 8.7% in 2022 to 7% this year and 4.9% in 2024.

The report also shows that Morocco’s current account balance is expected to fall from -4.3% in 2022 to -3.7% in 2023 and -3.5% in 2024.