The International Monetary Fund for Morocco allowed the withdrawal of $ 496 million under the mechanism of flexibility and sustainability, bringing what was spent according to this mechanism to $ 1.24 billion.
This comes after the Executive Council of the International Monetary Fund completed – on Monday, the third review, according to the mechanism of flexibility and sustainability, which was approved in September 2023.
The mechanism of flexibility and sustainability is provided by the fund in the form of long -term financing at a reasonable cost to face long -term challenges, including climate change.
The Fund stated that in 2024, Morocco’s economy managed to withstand another year of dehydration, and the strong local demand helped compensate for the weakening of the agricultural output, and it is expected that economic activity was slightly slowing to 3.2% in 2024.
The current account deficit expanded somewhat, while the unemployment rate remained high in about 13%, mainly reflecting the effect of job loss in the agricultural sector.
GDP growth is expected to accelerate to about 3.7% during the next few years, supported by a new series of infrastructure projects and the continued implementation of the structural reform agenda.
The inflation slowed more in 2024, which prompted Bank Al -Maghrib (the Central Bank) to reduce interest 3 times, in June, December 2024 and March.
2025 growth
In a related context, the Moroccan Central expected, yesterday, Tuesday, the growth of the country’s GDP 3.9% during the current year.
The governor of the Moroccan Central Bank, Abdel Latif Al -Jawahiri, said – at a press conference in Rabat – that the expectations of economic growth in the country’s gross domestic product will amount to 3.9% during 2025, with growth to rise to 4.2% during the next year.
He added that the expectations of the growth of the local economy are due to the agricultural growth, which is still linked to the climatic conditions, and the non -agricultural sectors that will be known by 4.2%.
“The budget deficit decreased to 3.9% of the gross domestic product during this year, and the deficit decreased to 3.6% during 2026”.
The numbers of the Moroccan Central come at a time when the public budget project in Morocco expected the country’s economy to grow 4.6%next year, with an inflation by about 2%, while the High Commission for Planning (official) expected, last January, a growth of 3.8%.
