IMF Slashes Morocco’s Growth Forecast to 0.8% for 2022, Predicts Rebound in 2023

For the Bretton Woods institution, Morocco should record an inflation of 6.2% this year before dropping to 4.1% next year. The current account balance would be -4.3% in 2022 and then -4.1% the following year. For unemployment, the projections forecast a rate of 11.1% this year and a slight drop to 10.7% in 2023.

In its report, the IMF discusses the impact of the war in Ukraine on growth and inflation. According to estimates, growth at the regional level should reach 5% this year, reflecting favorable prospects for oil-exporting countries in the region.

In 2023, growth should decline to 3.6% due to the drop in oil prices and the consequences of the slowdown in the global economy and the war. The global economy, on the other hand, should grow by 3.2% in 2022 before declining to 2.7% next year.