Morocco’s economic growth is expected to reach 3.5 pc in 2024 and 3.8% in 2025, driven by higher investment, according to latest projections released by the African Development Bank. In its African Economic Outlook 2024 report, the Bank said inflation is projected to fall slightly to 4.1% in 2024 and 3.8% in 2025, as world food prices decline. Growth prospects in Morocco could however be reduced by poor rainfall or slower economic growth in the European Union, warned the experts of AfDB, saying rising tensions related to Russia’s war in Ukraine could trigger another shock in food prices. The current account in the North African Kingdom is projected to record a small deficit of 0.4% of GDP in 2024, before slightly increasing to 0.9% of GDP in 2025, as a result of higher imports. The AfDB report said Morocco has prepared a new development model to strengthen its structural transformation by making it more inclusive.

Source: The North Africa Journal June 03, 2024 11:09 UTC