The International Monetary Fund expected the Moroccan economy to grow by 3 percent in the current year 2023, after shrinking to 1.2 percent in 2022.
According to the IMF, the expected growth will be dependent on the recovery of agricultural production and the positive effects of other economic sectors. The government is betting that grain production will reach 7.5 million tons, after a sharp decline last year to 3.4 million tons, to achieve a growth rate of 4 percent.
The growth rate expected by the fund is lower than the government's expectations, which is betting through the current year's budget on a growth of 4 percent, while the High Commission for Planning expects to achieve a growth of 3.3 percent, while the World Bank expects a growth of 3.5 percent.
The International Monetary Fund believes that remittances from expatriates and tourism revenues are expected to slow down relatively due to the slowdown in growth in the euro area, but the expected decrease in inflation and measures to support demand through the budget in the current year will encourage private consumption. It is expected that the inflation rate will be limited to 4 percent this year, after it jumped to 6.6 percent last year, as this will come due to the expectation of a decline in the price of raw materials and the monetary policy of Bank Al-Maghrib.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
