Morocco Fighting Against COVID-19: Drastic Times Call for Drastic Measures

Like many countries, Morocco is expected to undergo a severe economic slowdown this year because of the COVID-19 pandemic. The combined effect of poor crop year and the implications of confinement policy in the secondary and tertiary sectors has led to a downward revision of the growth rate. While the World Bank forecasts -1.7% contraction of Morocco’s economic activity by the end of 2020, the International Monetary Fund (IMF) expects a sharp decline reaching -3.7%. On the other hand, Bank Al-Maghrib (BAM) expects a stagnation of the economic activity around 2.3%. 

 

Extract :

The impact of the current pandemic is expected to be acute because of the multidimensional nature of the shock. It is a confluence of supply and demand shocks, both domestic and external...