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Morocco Employers’ Association, IMF discuss economic recovery

Moroccan economy's growth is expected to slow to 1.1 percent in 2022 before growing back up to 4.3 percent in 2023, according to the World Bank.
  • The president of the CGEM, Chakib Alj, highlighted 15.2 percent growth in the Moroccan economy in the second quarter of 2021
  • The kingdom also recorded a 22.1 percent increase in exports between September 2020 and September 2021

The prospects for economic recovery in Morocco were on the agenda of a video-conference meeting, held Friday, between officials from the Moroccan Employers’ Association (CGEM) and a delegation of the International Monetary Fund (IMF).

The meeting which was chaired by Roberto Cardarelli, IMF Mission Chief in Morocco, provided an opportunity to take stock of the performance of the private sector in the Kingdom. 

It was also an occasion to answer IMF questions related to private investment, the business environment, social issues, financing, foreign trade, freight costs and logistics.

The president of the CGEM, Chakib Alj, highlighted 15.2 percent growth in the Moroccan economy in the second quarter of 2021 with a cereal production of 103 million quintals (Mqx) under the agricultural campaign 2020/2021 (+221 percent).

The kingdom also recorded a 22.1 percent increase in exports between September 2020 and September 2021, Alj said while noting that foreign exchange reserves have reached 313 billion dirhams which are sufficient to tide over the economic crisis.

Alj stressed that these indicators confirm that the Moroccan economy has shown resilience in the face of the new coronavirus pandemic.