May 29, 2023

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EBRD predicts that the Moroccan economy will grow by 3% in 2023

D.The EBRD presents its economic forecasts report stating that by 2022, the Kingdom’s economy will face adverse weather conditions that will affect agricultural production in Ukraine, in addition to the impact of the war.

This forecast is taken into account “The effects of the drought are expected to put pressure on domestic food prices and boost the country’s food imports to higher international prices.”.

The financial institution says that disruptions in the global supply chain are an additional drag on growth. “These risks are likely to continue into next year, although we can see a resurgence in 2023 growth, forecast at 3%, as agriculture recovers and the pace of growth returns to the pre-epidemic level.”Supports EBRD.

The London-based organization also notes that after a 6.3% contraction in 2020 due to the epidemic, the Moroccan economy has achieved a strong recovery with a 7.4% GDP growth in 2021.

Under one of the best vaccination programs in the EBRD regions, this recovery is mainly due to a record harvest season and re-emergence in manufacturing, trade, construction and business services.The same source says.

(With map)

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