Morocco 2021 Article Iv Consultation Press Release And Staff Report

Author : International Monetary,International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 61 pages
File Size : 54,5 Mb
Release : 2022-02-09
Category : Business & Economics
ISBN : 9798400200588

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Morocco: 2021 Article IV Consultation-Press Release and Staff Report by International Monetary,International Monetary Fund. Middle East and Central Asia Dept. Pdf

Thanks to a successful vaccination campaign, COVID19 cases have declined sharply in 2021, and the Moroccan economy is rebounding. Economic activity has recovered most of the ground lost with the severe recession of 2020 and is expected to grow at 6.3 percent in 2021. Among the factors propelling the rebound are the exceptional harvest after two years of drought, continued fiscal and monetary stimulus, and the persistent buoyancy of remittances. Going forward, Morocco’s growth is expected to remain at about 3 percent, assuming the acceleration of new cases in early 2022 proves transitory and the effects of the pandemic on activity gradually fade. Recent inflationary pressures remained manageable and are expected to wane in 2022, as cost pressures from global and domestic supply disruptions are reabsorbed. After its sharp contraction in 2020, the current account deficit is projected to widen in 2021 and over the medium term, but Morocco emerges from the pandemic with a much stronger international reserve position.

Author : International Monetary,International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 69 pages
File Size : 44,6 Mb
Release : 2022-04-27
Category : Business & Economics
ISBN : 9798400208225

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Morocco: 2021 Article IV Consultation-Press Release and Staff Report by International Monetary,International Monetary Fund. Middle East and Central Asia Dept. Pdf

Thanks to a successful vaccination campaign, COVID19 cases have declined sharply in 2021, and the Moroccan economy is rebounding. Economic activity has recovered most of the ground lost with the severe recession of 2020 and is expected to grow at 6.3 percent in 2021. Among the factors propelling the rebound are the exceptional harvest after two years of drought, continued fiscal and monetary stimulus, and the persistent buoyancy of remittances. Going forward, Morocco’s growth is expected to remain at about 3 percent, assuming the acceleration of new cases in early 2022 proves transitory and the effects of the pandemic on activity gradually fade. Recent inflationary pressures remained manageable and are expected to wane in 2022, as cost pressures from global and domestic supply disruptions are reabsorbed. After its sharp contraction in 2020, the current account deficit is projected to widen in 2021 and over the medium term, but Morocco emerges from the pandemic with a much stronger international reserve position.

Author : International Monetary,International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 57 pages
File Size : 46,9 Mb
Release : 2023-01-24
Category : Business & Economics
ISBN : 9798400231247

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Morocco by International Monetary,International Monetary Fund. Middle East and Central Asia Dept. Pdf

Despite the authorities’ very strong policy response, another drought and the economic spillovers from Russia’s invasion of Ukraine have taken a toll on Morocco’s economy and ignited inflationary pressures. Assuming a return to normal agricultural seasons, stabilization of external economic conditions, and continued progress on the authorities’ rich structural reform agenda, economic activity should rebound in 2023 and stabilize around 31⁄2 percent over the medium term. Inflation is projected to have peaked in 2022 and to start falling in 2023 as the commodity price shock dissipates and the central bank reduces monetary policy accommodation. The negative terms-of-trade shock widened the trade deficit in 2022, but Morocco’s external position is projected to improve from 2023 onwards, also thanks to strong remittances and tourism inflows.

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 97 pages
File Size : 54,7 Mb
Release : 2024-05
Category : Business & Economics
ISBN : 9798400273551

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Morocco by International Monetary Fund. Middle East and Central Asia Dept. Pdf

The Moroccan economy once again showed resilience to negative shocks in 2023, as economic activity accelerated, inflation slowed, and the current account deficit narrowed despite headwinds from water scarcity (which caused a severe loss of jobs in the agricultural sector), the September 2023 earthquake, and lower growth in the Euro Area. The ambitious infrastructure plan announced by the authorities (including in water and energy sectors) is expected to boost investment and growth in the next few years, with the current account gradually converging towards the medium-term norm. The fiscal deficit in 2023 was below the level projected in the Budget and the authorities reiterated their commitment to a gradual fiscal consolidation over the next three years. Implementation of the structural reform agenda has continued, particularly regarding the overhaul of social protection, health care, and education systems.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 45,7 Mb
Release : 2024-07-01
Category : Electronic
ISBN : OCLC:1323228681

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Algeria by Anonim Pdf

Author : International Monetary,International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 87 pages
File Size : 50,7 Mb
Release : 2021-12-02
Category : Business & Economics
ISBN : 9781616357948

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Algeria: 2021 Article IV Consultation-Press Release; and Staff Report; and Statement by the Executive Director for Algeria by International Monetary,International Monetary Fund. Middle East and Central Asia Dept. Pdf

The concomitant Covid-19 pandemic and oil price shock in 2020 have taken a heavy toll on the Algerian economy and the population. The authorities’ response helped mitigate the social and economic impact of the crisis. Nevertheless, the crisis exacerbated the Algerian economy’s vulnerabilities, making even more urgent the need for a new, more inclusive and sustainable, growth model. A recovery is underway in 2021, but the outlook remains challenging. While the recent rebound in hydrocarbon prices should buoy the recovery and ease immediate financing constraints, addressing long-standing structural challenges will help to realize Algeria’s vast growth potential for the benefit of its population.

Author : Anonim
Publisher : Unknown
Page : 52 pages
File Size : 40,7 Mb
Release : 2006
Category : Morocco
ISBN : STANFORD:36105122055176

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Morocco, Staff Report for the ... Article IV Consultation by Anonim Pdf

Author : International Monetary,International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 111 pages
File Size : 45,6 Mb
Release : 2021-07-06
Category : Business & Economics
ISBN : 9781513587790

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Guinea: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guinea by International Monetary,International Monetary Fund. African Dept. Pdf

While the non-mining sector was severely impacted by the COVID-19 crisis, overall growth in Guinea remains strong, reaching 7 percent in 2020, driven by booming mining production. Inflation exceeded 12 percent as a result of COVID-related supply disruptions and the ongoing monetary and fiscal response. The already weak social indicators have deteriorated further.

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 75 pages
File Size : 49,5 Mb
Release : 2021-03-01
Category : Business & Economics
ISBN : 9781513570952

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Morocco by International Monetary Fund. Middle East and Central Asia Dept. Pdf

As in many other countries in the world, the pandemic has exerted a heavy toll on Morocco’s population. Its economy has also been hit by a severe drought that affected agriculture output. The authorities’ prompt response has helped contain the social and economic damage from the shocks but could not avoid a severe contraction of GDP. The loss of tax revenues deteriorated the fiscal position, while the fall in tourism receipts widened the current account deficit. However, greater access to external borrowing, including the full drawing of the IMF Precautionary and Liquidity Line (PLL) arrangement, has helped maintain international reserves at adequate levels so far in 2020. A gradual economic recovery is expected to begin in 2021, assuming the impact of the drought and the health crisis wane next year. The recent rise in COVID-19 cases, both in Morocco and its main trading partners, suggests that this outlook remains subject to significant downside risks.

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 42 pages
File Size : 47,8 Mb
Release : 2017-09-11
Category : Business & Economics
ISBN : 9781484317372

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Morocco by International Monetary Fund. Middle East and Central Asia Dept. Pdf

Growth prospects for 2017 have improved, but nonagricultural growth is subdued. Inflation is low. The current account deficit is projected to decline and international reserves are at a comfortable level. The outlook is still subject to significant domestic and external risks, including weak growth in the euro area and geopolitical risks in the region.

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 74 pages
File Size : 42,6 Mb
Release : 2019-07-16
Category : Business & Economics
ISBN : 9781498326070

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Morocco by International Monetary Fund. Middle East and Central Asia Dept. Pdf

This 2019 Article IV Consultation with Morocco discusses that gradually increasing growth, moderate inflation, and stronger external and fiscal buffers are expected over the medium term, benefiting from sustained reform implementation. However, this outlook remains subject to significant domestic and external risks: delays in implementing reforms, lower growth in key partner countries (particularly in the euro area), higher oil prices, geopolitical risks, and volatile financial conditions could weaken Morocco’s resilience and economic prospects. Building on progress achieved in recent years, further fiscal and structural reforms are needed to consolidate gains in macroeconomic resilience and achieve higher and more inclusive growth. The discussions mainly focused on strengthening the resilience of the economy through continued fiscal reforms, greater exchange rate flexibility, and strengthened financial sector soundness. It also highlighted the need for pushing ahead with mutually-reinforcing and properly sequenced reforms to raise growth and inclusion, including by improving public sector governance, promoting private sector development, and reducing inequalities.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 40,7 Mb
Release : 2024-07-01
Category : Electronic
ISBN : OCLC:1322053003

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Guinea by Anonim Pdf

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 70 pages
File Size : 48,8 Mb
Release : 2018-03-12
Category : Business & Economics
ISBN : 9781484346457

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Morocco by International Monetary Fund. Middle East and Central Asia Dept. Pdf

This 2017 Article IV Consultation highlights that economic growth in Morocco has picked up in 2017 and is expected to reach 4.4 percent, mostly driven by a significant rebound in agricultural activity while nonagricultural activity remains subdued. The unemployment rate increased to 10.6 percent in Q3:2017 (year-over-year) while youth unemployment remains high at 29.3 percent. Headline inflation (year-over-year) is expected to decline to 0.6 percent in 2017, reflecting lower food prices. Following a marked deterioration in 2016, the current account deficit is projected to improve in 2017 to 3.9 percent of GDP. This primarily reflects Morocco’s global environment, particularly the stronger recovery in Europe, and strong export growth, mostly owing to the good performance of food product and phosphate and derivatives exports.

Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 69 pages
File Size : 41,6 Mb
Release : 2017-02-03
Category : Business & Economics
ISBN : 9781475574579

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Morocco by International Monetary Fund. Middle East and Central Asia Dept. Pdf

This 2016 Article IV Consultation highlights that Morocco’s macroeconomic conditions have improved since 2012, but growth has remained sluggish. In 2016, growth slowed owing to a sharp contraction in agricultural output and subdued nonagricultural activity. The unemployment rate decreased to 9.6 percent in the third quarter of 2016 while youth unemployment remains high at 21.8 percent. Morocco’s medium-term prospects are favorable, with growth expected to rebound to 4.4 percent in 2017 and reach 4.5 percent by 2021. However, risks remain substantial, and relate mainly to growth in advanced and emerging market economies, geopolitical tensions in the region, world energy prices, and global financial market volatility.

Author : International Monetary,International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 79 pages
File Size : 41,7 Mb
Release : 2021-07-07
Category : Business & Economics
ISBN : 9781513587424

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Saudi Arabia: 2021 Article IV Consultation-Press Release; and Staff Report by International Monetary,International Monetary Fund. Middle East and Central Asia Dept. Pdf

The authorities responded quickly and decisively to the COVID-19 crisis and the economy is recovering. COVID-19 cases are well below the 2020 peak and vaccination is progressing. The exit from the remaining COVID-related policy support needs to be carefully managed and the Vision 2030 reform agenda continued.