With 2.7% of GDP, Morocco ranks fourth in the global ranking of economies that have devoted a significant budget to the fight against coronavirus. This is indicated by the study report on the impacts of coronavirus on the Moroccan economy carried out by the commercial section of the EU economic delegation.
The coronavirus already has consequences on the global economy in general and on the Moroccan economy in particular. But the latest report from the American rating agency Fitch Ratings indicates that the kingdom could overcome this economic crisis.
Abnormally high temperatures across Morocco and the lack of precipitation portend another dry season that could affect agricultural production and consequently the economic growth of 2020.
During her working visit to Morocco, the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, stated that Morocco is one of the few countries in Africa to have 22% of its Gross Domestic Product (GDP) in the form of revenues.
Morocco is the second best destination for investments in Africa, behind Egypt. This is indicated by the 2020 report of Rand Merchant Bank (RBM), one of the leading investment banks in South Africa, which ranks it in 3rd place.
Morocco ranked 12th out of 30 in the new "global retail development index 2019" ranking, published by the American firm ATkearney. It thus loses five places.
The outstanding external debt of the Treasury stood at 151.4 billion dirhams at the end of September 2019; which is equivalent to 14.5% of GDP over the last three years.
The Moroccan GDP stood at over 1,100 billion dirhams at the end of 2018, with a significant contribution from financial and non-financial companies. It is slightly improved by 4.1% compared to 2017.
Morocco’s economic growth would stand at 2.8% in 2019, according to an International Monetary Fund (IMF) mission focused on the second review of the Precautionary and Liquidity Line (PLL) agreement.
The Government intends to have strict control over personnel expenses in 2020. This is at least what is planned in the 2020 Finance Bill (PLF).
As part of the 2020 Finance Bill, a new provision proposed by the Government provides for an amnesty for holders of funds abroad. This measure will allow a GDP growth rate of 3.7% and reduce the budget deficit to 3.5%.
The World Bank looked, in a monitoring report published on Tuesday, October 9, at the economic situation in Morocco and the challenges to be met, in particular those related to the prevailing poverty.