Morocco Ranks 5th Among Top African Economies in Forbes Middle East 2021 Report

For the year 2021, the IMF estimates the increase in Morocco’s real GDP at 4.5%, after its contraction of 7% in 2020, due to the health crisis, recalls Forbes, which estimates that Morocco’s GDP should increase by 9.2% to $124 billion in 2021, compared to $113.55 billion in 2020. Although the health crisis has forced the Moroccan economy to regress in 2020, "the Moroccan government’s response to the crisis has been appropriate, and the ambitious reforms implemented could pave the way for a strong recovery," the World Bank stressed.

In addition, the Moroccan government has put in place a plan to support economic recovery and employment. Thus, $13.5 billion have been granted in the form of credit guarantees to businesses and financing for a recently established Strategic Investment Fund to help investment projects and companies in need of funds to improve their business.

In the Forbes Middle East 2021 list, Nigeria will occupy the first place of the African economy with a GDP of nearly $514 billion. Egypt, South Africa and Algeria will follow.