IMF predicts Morocco's economy to grow by 3% in 2024, inflation to reach 1.7%

Posted on October 23, 2024   |  

The IMF predicts Morocco's economy will grow by 2.8% in 2024, rising to 3.6% in 2025.

Inflation in Morocco is expected to increase to 1.7% in 2024 and 2.3% in 2025, according to IMF projections.

The unemployment rate in Morocco is forecast to stay at 13.4% in 2023, with a decline to 12.6% by 2025.

The IMF forecasts Morocco's current account balance will be -2.0% in 2024 and -2.3% in 2025, with economic growth stabilizing around 3.4% by 2029 and inflation falling to 2.0%.

The Middle East and North Africa region is expected to see growth of 2.1% in 2024, increasing to 4.0% in 2025, per the IMF.

Inflation in the MENA region is anticipated to be high, reaching 14.8% in 2024 and easing to 11.6% in 2025.