Morocco’s GDP to shrink by 2 per cent in 2020

Morocco’s economy will decline by 2 per cent in 2020 because of the economic impact of the coronavirus pandemic, but a 4 per cent rebound is expected in 2021, according to the latest forecast by the European Bank for Reconstruction and Development (EBRD) published today. The latest edition of the EBRD Regional Economic Prospects report says that the slowdown will be driven by a sharp decline in tourism, measures to contain the spread of the pandemic, a likely poor harvest, a recession in Europe and lower commodity prices.

Read more from the source : EBRD

Tags : Morocco, European Bank for Reconstruction and Development, EBRD,