EBRD Forecasts: Morocco’s Economic Growth Lags Behind Regional Average

Thus, for the year 2019, the countries of the southern and eastern Mediterranean (Semed: Egypt, Jordan, Lebanon, Morocco and Tunisia) will experience an average growth of 4.6%, compared to 4.4% last year, a slight improvement. Next year, economic growth will improve to reach 5.1%.

For Morocco, economic growth will show 3.2% this year and 3.8% next year, a growth below the average of the analyzed countries. "In Morocco, growth should rise to 3.2% in 2019 and 3.8% in 2020, due to a strengthening of growth in non-agricultural sectors, after a slowdown to 3.1% in 2018," the EBRD reports.

For the European bank, "this potential growth will allow the improvement of budget management and economic diversification away from the agricultural sector." It will also allow the recovery of tourist arrivals, the increase of foreign direct investment, the rapid expansion of the automotive and aerospace industries and the expansion of the mining sector.

For information, here are the expected rates in other countries:

• Jordan: 2.2% in 2019 and 2.4% in 2020
• Tunisia: 2.7% in 2019 and 4% in 2020.
• Lebanon: 1.3% in 2019 and 2% in 2020