The lockdown imposed on Moroccans has strongly impacted the economic sector. This period of inactivity has notably caused a loss of 6 points of the gross domestic product (GDP), according to the Minister of Economy.
The deterioration of the budgetary situation at the end of the first five months of 2020 has resulted in an increase in the overall public debt. The debt-to-GDP ratio should climb to 91.7% in 2020 against 80.5% in 2019.
Following the Covid-19 pandemic, Morocco is preparing to experience in 2020 its worst recession since 1996, according to the central bank of the kingdom.
In the run-up to the "deconfinement" of June 10, the Secretary General of the Istiqlal , Nizar Baraka, presented on Friday the main lines of his party’s Memorandum in the presence of the Head of Government.
Money transfers from Moroccans living abroad to Morocco will see a sharp decline in the coming months due to the covid-19 and the economic crisis in the countries of residence, said consultant Fatima Lahnait.
The High Commission for Planning (HCP) has updated its main quarterly forecasts for the first half of 2020. The note presents the new estimates of economic growth for the first quarter of 2020 and discusses the forecasts for the second quarter.
In this context marked by the health crisis and the drastic drop in oil prices, Moody’s intends to revise the outlook for the Moroccan banking system from stable to negative.
The most recent data collected by the High Commission for Planning up to April 20 show a more pronounced slowdown in activity during the first quarter of 2020, with economic growth receding to +0.7%, instead of +1.1% set on April 7, based on information collected up to March 31.
Morocco can count on its good management of the pandemic to preserve its achievements with the rating agencies. Despite the health crisis and its negative effects on the national economy, the kingdom has managed to maintain its rating with Standard & Poor’s.
The covid-19 pandemic will increase the poverty rate in Morocco by one percentage point. This is information revealed by a report jointly prepared by the United Nations Development Programme (UNDP), the United Nations Economic Commission for Africa (UNECA) and the World Bank.
Recession is looming and threatens the Moroccan economy, whose GDP could contract by 1.8% during the first two quarters of the year.
In a note devoted to Morocco, the rating and financial evaluation agency believes that the country is making efforts to face internal and external shocks. For it, even if the current crisis is fraught with many repercussions, the Moroccan economy will be able to count on certain sectors to provide it with a breath of fresh air.