{
  "title": "Morocco: Staff Report for the 2014 Article IV Consultation",
  "publication": "IMF Staff Country Reports, February 23, 2015",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/morocco-staff-report-for-the-2014-article-iv-consultation-42718",
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  "summary": "This 2014 Article IV Consultation highlights that Morocco has made important strides in maintaining macroeconomic stability in a difficult environment, but challenges remain to reduce fiscal and external vulnerabilities, strengthen growth, create jobs, and tackle poverty.",
  "publishDate": "2015-02-23",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Summary",
      "content": "- The 2014 Article IV Consultation highlights that Morocco has made important strides in maintaining macroeconomic stability in a difficult environment, but challenges remain to reduce fiscal and external vulnerabilities, strengthen growth, create jobs, and tackle poverty.\n- Executive Directors commended the authorities for their strong policy actions, which have reduced economic vulnerabilities."
    },
    {
      "heading": "Growth outlook and recent performance",
      "content": "- Growth slowed in 2014 as a result of a contraction in agricultural activity following an exceptional 2013 crop and weak demand from Europe.\n- Growth is expected to rebound in 2015 to about 4.4 percent and remain robust in the medium term as external demand and domestic confidence strengthen."
    },
    {
      "heading": "Major challenges identified",
      "content": "- Reduce fiscal vulnerabilities.\n- Reduce external vulnerabilities.\n- Strengthen growth.\n- Create jobs.\n- Tackle poverty."
    },
    {
      "heading": "Subject coverage and keywords",
      "content": "- Subject areas: Banking, Credit, Financial institutions, Government debt management, Loans, Money, Oil prices, Prices, Public debt, Public financial management (PFM).\n- Keywords: CR, Credit, dirham exchange rate, Europe, financial asset, GDP, Global, Government debt management, IMF staff estimate, ISCR, Loans, Maghreb, Middle East, monetary policy, Morocco's economy, Oil prices, policy, preserve competitiveness, Sub-Saharan Africa, TA mission MCM exchange rate.\n\n---\n\n Content in this bundle\n\n- Cr1543\n  - Cr1543 (PDF){rel=\"external\" type=\"application/pdf\"}\n- Maroc: Consultations de 2014 au Titre de l’article IV; Rapport du FMI No. 15/43; 23 Janvier 2015\n  - Maroc: Consultations de 2014 au Titre de l’article IV; Rapport du FMI No. 15/43; 23 Janvier 2015 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/morocco-staff-report-for-the-2014-article-iv-consultation-42718"
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    "Published: February 23, 2015",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498381642.002",
    "The 2014 Article IV Consultation highlights that Morocco has made important strides in maintaining macroeconomic stability in a difficult environment, but challenges remain to reduce fiscal and external vulnerabilities, strengthen growth, create jobs, and tackle poverty.",
    "Executive Directors commended the authorities for their strong policy actions, which have reduced economic vulnerabilities.",
    "Growth slowed in 2014 as a result of a contraction in agricultural activity following an exceptional 2013 crop and weak demand from Europe.",
    "Growth is expected to rebound in 2015 to about 4.4 percent and remain robust in the medium term as external demand and domestic confidence strengthen.",
    "Reduce fiscal vulnerabilities.",
    "Reduce external vulnerabilities.",
    "Strengthen growth.",
    "Create jobs.",
    "Tackle poverty.",
    "Subject areas: Banking, Credit, Financial institutions, Government debt management, Loans, Money, Oil prices, Prices, Public debt, Public financial management (PFM).",
    "Keywords: CR, Credit, dirham exchange rate, Europe, financial asset, GDP, Global, Government debt management, IMF staff estimate, ISCR, Loans, Maghreb, Middle East, monetary policy, Morocco's economy, Oil prices, policy, preserve competitiveness, Sub-Saharan Africa, TA mission MCM exchange rate.",
    "**Cr1543**",
    "**Maroc: Consultations de 2014 au Titre de l’article IV; Rapport du FMI No. 15/43; 23 Janvier 2015**"
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