Morocco’s GDP is set to grow by 4.6% in 2021, according to the World Bank. “In Morocco, output is expected to rebound to 4.6 percent in 2021 as drought conditions ease, policy remains accommodative, and favorable virus and vaccine trends provide scope for easing domestic mobility restrictions,” the World Banks points out in its Global Economic Prospects report.
The World Bank is also forecasting a GDP growth of 3.4 percent in 2022 for Morocco. GDP in the MENA region is expected to grow by 2.4 percent in 2021, 0.3 percentage points more than projected in January but still below the average during the past decade, the report says.
“The region should benefit from the recent rebound in oil prices, stronger external demand, and less economically disruptive new outbreaks. Growth is expected to strengthen further in 2022, to 3.5 percent, but ease to 3.2 percent in 2023. Firming activity in 2022 will be underpinned by increasingly robust private consumption and investment growth, as mobility restrictions ease and vaccinations progress,” the document underlines.
The global economy is set to expand 5.6 percent in 2021—its strongest post-recession pace in 80 years, the report says, noting that this recovery is uneven and largely reflects sharp rebounds in some major economies.