Morocco Targets 5.4% Economic Growth in 2021, Rebounding from Pandemic Slump

5.4% in 2021, this is much more than the 4.4% announced in July by the forecasts of the High Commission for Planning (HCP), confirmed in a note published jointly on August 17, 2020 with the United Nations System in Morocco and the World Bank. This, after an expected 5.8% decline in 2020 due to the recovery in domestic demand.

The Head of Government bases his forecasts on the assumption of an average butane gas price of $350 per tonne and an average cereal harvest of 70 million quintals, his circular note states.

This economic recovery is based on the major strategic guidelines recently mentioned by Saâd-Eddine El Othmani, namely: the implementation of the National Economic Recovery Plan (with an overall envelope estimated at 120 billion dirhams to support struggling businesses), the generalization of social coverage, and the exemplarity that the State must give in rationalizing public spending.