IMF: Morocco’s Economy Shows Resilience Amid Global Challenges

IMF staff say the resilience of the Moroccan economy should continue despite the consequences of the war in Ukraine and those related to Covid-19. The kingdom is presented as an example, according to Jihad Azour, Director for North Africa and the Middle East and Central Asia at the IMF.

According to the official, Morocco has embarked on a number of reflections on structural reforms, such as modifying the social protection system or economic measures targeting public enterprises. Reforms that, according to the financial institution, are going in the right direction.

More specifically, the kingdom has achieved better targeting of social assistance and transformed its economy to make it more connected to global values. A crucial data that has allowed it to strengthen its capacity to absorb shocks, particularly those of Covid-19 and the war in Ukraine and their consequences on the global economy, explained the official.

Nevertheless, "Morocco must continue its reforms, maintain stability in public finances and continue to reduce its debt level, which is now under control," recommends Jihad Azour.