International Monetary Fund (IMF) praises Morocco's economic performance.
22 May 2012
Read by 1488 persons
Nemat Shafik, deputy director of the International Monetary Fund (IMF), stated that economic activity in the Kingdom remains one of the "strongest" in the Middle East and North Africa (MENA) region. In an interview with MAP, she said that 2013 will be "marked by a rebound in agricultural production, the manufacturing and tourism sectors" after a poor year in 2012. Like its neighbors, Morocco will benefit from an expected economic recovery in the Eurozone in 2013.
For 2013, the IMF forecasts for Morocco one of the highest growth rates in the region with a 4.3% increase in GDP compared to 2012. However, these forecasts remain to be confirmed because after being estimated at 5%, then 4.2%, economic growth was finally reduced to 3% for the year 2012.
She also pointed out that the Eurozone crisis had a "moderating effect" on the economic activity of the Maghreb. The decline in tourism, trade flows and investment contributed to the economic slowdown in Morocco and Tunisia since these two countries "depend on Europe for more than 80% of their total remittances", adding that Europe is also the destination for about 60% of the Maghreb's exports, the source of 80 to 90% of its tourism revenue, and about 80% of its total foreign direct investment.
The IMF deputy director has been on a working visit to Morocco since Monday.
Biladi.ma
Published May 21, 2012.
Posted online May 22, 2012.
For 2013, the IMF forecasts for Morocco one of the highest growth rates in the region with a 4.3% increase in GDP compared to 2012. However, these forecasts remain to be confirmed because after being estimated at 5%, then 4.2%, economic growth was finally reduced to 3% for the year 2012.
She also pointed out that the Eurozone crisis had a "moderating effect" on the economic activity of the Maghreb. The decline in tourism, trade flows and investment contributed to the economic slowdown in Morocco and Tunisia since these two countries "depend on Europe for more than 80% of their total remittances", adding that Europe is also the destination for about 60% of the Maghreb's exports, the source of 80 to 90% of its tourism revenue, and about 80% of its total foreign direct investment.
The IMF deputy director has been on a working visit to Morocco since Monday.
Biladi.ma
Published May 21, 2012.
Posted online May 22, 2012.
