Morocco should prepare to address the challenge of drought and inflation in 2024, the World Economic Forum (WEF) said. In its Global Risks Report, the WEF identified water supply and inflation among the most pressing issue Morocco would face this year as the country braces for the sixth consecutive dry year. Inflation was contained in Morocco thanks to a combination of monetary tightening by the central bank and government measures to curb imported inflation. But economists fear inflation would pick up due to an expected rise in food prices due to drought-stricken crops. The World Economic Forum also mentions unemployment as a risk in Morocco considering job losses in farm-dependent rural areas.

Source: The North Africa Journal January 22, 2024 10:35 UTC