Morocco’S Economy Strengthens On Exports

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – Morocco's economy strengthened last year on recovery in domestic demand and buoyant exports, the International Monetary Fund (IMF) said at the conclusion of a visit in the first half of February led by Roberto Cardarelli. The IMF expects growth to pick up to 3.6% this year.

Stronger investment is expected to boost the economy over the medium term. According to the IMF, the inflation is projected to continue to fall slowly in Morocco as pressures on commodity and food prices fade. The agency says Morocco's current fiscal policy looks“appropriate” and adds that the country can accelerate the pace of fiscal consolidation in the medium term.

The IMF also says that generalization of social protection under the application of a unified social registry promises to better target support to those families who really need it. The fund adds the reform of the value-added tax (VAT) is expected to incentivize formality, expanding the tax base. The IMF recommends completing the reform of the tax system, including of the VAT, improving tax administration, rationalizing spending, and other moves.

Translated by Guilherme Miranda

©Manoel Cohen/AFP

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