Despite ongoing challenges, the IMF likes Morocco’s economic outlook:
Morocco’s macroeconomic situation continues to improve. After declining to 2.4 pc in 2014, growth is expected to reach 4.7 pc in 2015 thanks to a good agricultural season and improvements in construction activity, said the International monetary fund (IMF).
However, non-agricultural growth remains sluggish, including in sectors related to tourism, which are affected by geopolitical risks, and some traditional manufacturing, such as textiles, stressed lately the IMF executive board after concluding the Article IV Consultation with Morocco.
The unemployment rate picked up slightly to 10.1 pc in Q3 2015, and youth unemployment is particularly high, at 21.4 percent. The inflation (y-o-y) remained low at 1.4 pc in October, reflecting lower food prices, added the IMF, noting that external imbalances have fallen substantially…[FULL STORY]