IMF Praises Morocco’s Swift Economic Recovery Post-Pandemic

Established as a model for managing Covid-19, particularly by its neighbors and international institutions, Morocco has not spared the means, especially financial, to deal with the crisis.

In its report on "Regional Economic Prospects", the IMF indicated that "Morocco is one of the countries that have reacted the fastest and most effectively to fight this health crisis". Thanks to a number of fiscal, monetary and financial measures, the Moroccan economy has "managed last year to limit the impact of this crisis", the institution specified.

"This recovery will be strengthened in the future because the figures show that export growth is strong, that the agricultural sector, which represents an important activity in Morocco, is regaining a solid recovery this year, but also that the capacity of the Moroccan economy to resume normal activity is materializing," detailed Jihad Azour, director of the Middle East and Central Asia department of the IMF.

Regarding the vaccination campaign, the official specified that Morocco is among the countries in the region that have "made good progress in their vaccination campaigns", while recalling that at the regional level, as around the world, "accelerating the acquisition and distribution of vaccines remains the absolute priority in the short term to save lives, promote recovery and prevent gaps from widening".

On the social level, "Morocco has succeeded in providing social support to more than 5 million families who are in the informal sector. Also, the acceleration of vaccination and the measures taken to limit the impact of the health crisis on the economy have allowed Morocco to achieve a rapid recovery in 2021, and we forecast a growth of 5.7% this year which, in fact, offsets the contraction experienced by the Moroccan economy last year," he explained.