São Paulo – Morocco’s gross domestic product is expected to grow by 3.9% this year compared to 2024, a year in which the economy is estimated to have grown by 3.2% compared to 2023. The reason for this year’s expansion is the high domestic demand combined with a new investment cycle. So said the International Monetary Fund (IMF), which on Monday (10) released a report on its latest evaluation of the Moroccan economy concluded on Friday (7).
According to a statement from the fund signed by the head of the mission to Morocco, Roberto Cardarelli, despite strong domestic demand and a growing economy, inflation remains under control. “With inflation back to around 2%, Bank Al-Maghrib should continue its preparation to adopt an inflation-targeting framework,” Cardarelli said in the statement.
The IMF added that recent tax system reforms have helped expand the tax base while lowering the tax burden in the country. The central government’s deficit for 2024 was 4.1% of GDP, lower than the projected 4.3%.
The IMF document recommends the adoption of policies aimed at job creation and boosting small and medium size enterprises (SMEs) so they can integrate into “sectoral value chains.” Regarding SMEs, the IMF said that the Mohammed VI Investment Fund should help these companies access financing. The IMF technical meetings were held in Rabat with Moroccan government officials, representatives from Bank Al-Maghrib, and members of the private sector.
Read more:
Brazil discusses quotas, new products with Morocco
Translated by Guilherme Miranda
