Growth in the Moroccan economy is expected to stand at 2.9% in 2024, driven by the manufacturing and tourism sectors, the European Bank for Reconstruction and Development (EBRD) said on Thursday. Despite unfavorable weather conditions this year, “the recovery of the manufacturing and tourism sectors, supported by a recovery in exports and domestic demand”, should support the Moroccan economy, said the EBRD in its report on the regional economic outlook. .
Inflation in Morocco continued to decline, reaching 1.3% in July 2024, thanks to the fall in food and energy prices, observed the EBRD, welcoming the “gradual fiscal consolidation trajectory” of the government, which made it possible to “reduce the deficit to 4.3% of GDP”. The deficit contracted thanks to lower imports and better performance in tourism, remittances and exports of automobiles and electrical equipment, the London-based institution noted.
Across the southern and eastern Mediterranean region, growth is expected to be 2.1% for the first half of 2024. A figure slightly lower than the 2.7% recorded during the same period. period last year. However, growth is expected to accelerate to reach 2.8% in 2024, less than the forecasts made last May (3.4%).
This downward revision is explained by a slower than expected recovery in private and public investment following disruptions in the energy sector, severe droughts and the impact of the war in the Middle East on economies in the region, detailed the Bank. The EBRD Regional Economic Outlook is published at least twice a year. The report contains a summary of regional economic developments, as well as the Bank’s growth forecasts for the economies in which it invests.
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– 2024-09-26 22:27:47
