Morocco: Staff Report for the 2005 Article IV Consultation
IMF Staff Country Reports, November 23, 2005
Source details
- Canonical URL
- Morocco: Staff Report for the 2005 Article IV Consultation
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Bibliographic details
- Published: November 23, 2005
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451824766.002
Key findings
- Economic growth in Morocco has been volatile and insufficient to significantly reduce poverty and unemployment.
- Growth averaged 3 percent over the last decade.
- Volatility in growth is attributed to the dependency of agriculture on rainfalls.
- In 2004, macroeconomic and financial conditions remained stable.
Macroeconomic outlook and projections for 2005
- The unfavorable agricultural campaign is expected to affect macroeconomic conditions in 2005.
- The current account is likely to register a small deficit partly because of a high level of imports of food products and a higher oil bill.
Structural vulnerabilities and drivers
- Heavy reliance of the agricultural sector on rainfall is a key source of growth volatility.
- High import dependence for food products and sensitivity to oil price movements weigh on external balances.
Policy-relevant themes (as identified in the report)
- Exchange rate arrangements
- Expenditure
- External debt
- Foreign exchange
- Public debt
- Revenue administration
Keywords and emphasis noted by the report
- authorities' effort, authorities' openness, authorities' plan, authorities' resolve, authority, CR, Europe, Exchange rate arrangements, ISCR, Maghreb, targeted reduction
Source: Morocco: Staff Report for the 2005 Article IV Consultation (IMF Staff Country Report, November 23, 2005).
Content in this bundle
- Cr05418
- Cr05418f