Morocco Set to Lead African Economic Growth in 2021, Analysts Predict

After BAM, the World Bank and the HCP, Global Data released, on Monday, the results of its analysis and outlook for the Moroccan economy.

According to the report published for this purpose, Morocco will be at the top of the five economies that will experience the fastest growth rates in Africa in 2021. GlobalData forecasts a growth of 5.19% for the Kingdom, the highest rate on the continent in 2021.

The institute, which highlights the agricultural performance of the Kingdom, notes that "Morocco’s expected growth of 5.19% will also benefit from the effective vaccination campaign, accommodative monetary policies and fiscal incentives".

The note also recalls that the African economy, after experiencing its worst recession in half a century in 2020, should grow at a rate of 3.8% in 2021.

For Gargi Rao, economic research analyst at GlobalData, quoted in the report, "Morocco has made giant strides in recent years".