Rabat – The Board of Directors of the International Monetary Fund (IMF) announced that he had approved the payment of the third tranches in favor of Morocco under the agreement of resilience and sustainability of $ 496 million.
This brings the total payment as part of the agreement to around 1.24 billion US dollars, a opinion From the IMF said and found that the economy in Morocco continued to show resistance despite another year dryness.
The currency fund also suggested that the country’s economy growth It is expected that they are accelerated in the medium term due to stronger investments and structural reforms.
“The robust domestic demand has contributed to the fact that the weak agricultural production and economic activity in 2024 slowed down only slightly to 3.2 percent,” said IMF and found that the current account deficit has expanded.
The IMF also remembered some of the challenges that Morocco presented, including unemployment, which is increased at around 13% and affects the agricultural sector.
Despite a modest slowdown in GDP -GDP growth Morocco, the IMF expects that the pace will accelerate to 3.7% in the next few years thanks to the infrastructure projects and the structural reform agenda.
Much of these infrastructure projects revolves around the enormous preparation campaign in Morocco for the 2030 World Cup.
The projects include the construction of new stadiums and the renovation of existing and robust additions to the road and railway infrastructure.
Kenji Okamura, deputy managing director and acting chairman of the IMF, had high comments for Morocco’s economy and said that it has continued to show resistance to negative shocks, a case that reflects the “very strong economic policy and framework of the country”.
“Despite renewed drought conditions, the economic activity in 2024 slowed down only slightly to an estimated 3.2 percent, which declined 3.4 percent in 2023,” added Okamura thanks to the robust domestic demand.
The IMF manager continued to comment on Morocco’s reforms and found that they are important to make growth more, more resistant, more professional and integrative.
The bank also recalled Morocco’s climate efforts as part of the resilience agreements and found that a number of measures were carried out to better protect underground water resources and to improve the regulations for the electricity market in order to promote the production of renewable energies by the private sector.
