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Significance
Real GDP growth is on track to be at least 6% in 2020, following a 7% contraction last year. Most sectors have bounced back, though not tourism. High levels of vaccination against COVID-19 give the country an advantage few African states can match.
Impacts
Morocco is seeking first-mover advantage in large-scale vaccine production, but faces competition from South Africa and Egypt.
Rabat is also looking to attract investment in other future-focused sectors, including electric vehicles and medicinal cannabis.
The sharp increase in nominal GDP will stabilise, or even reduce, Morocco’s debt ratios, which have risen during the pandemic.
Keywords:
Morocco,
ME/NAF,
economy,
social,
automobile,
government,
growth,
health,
investment,
pharmaceutical,
tourism,
Pharm, biotech & life sciences
© Oxford Analytica 2021. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2021
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