Country Economic Forecasts - Morocco
The economy successfully emerged from the crisis in 2021, with output levels recovering to pre-pandemic levels − largely supported by a bumper cereal harvest. While the non-agricultural sector also expanded, the sector came in just below its pre-pandemic level. Global supply chain blockages placed increasing pressure on the sector in Q4, and we suspect the effects thereof continued to hamper economic activity in Q1 2022. The recent removal of a flight ban should bode well for tourism; but the unpredictable implementation of travel bans could threaten a solid recovery. Nevertheless, the outlook is more upbeat than it was last quarter, and the economy should be well on its way to surpassing its pre-pandemic output level by the end of this year.
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