## Morocco: Staff Report for the 2014 Article IV Consultation

_IMF Staff Country Reports, February 23, 2015_

## Source details

**Canonical URL:** [Morocco: Staff Report for the 2014 Article IV Consultation](https://www.imf.org/en/publications/cr/issues/2016/12/31/morocco-staff-report-for-the-2014-article-iv-consultation-42718)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/morocco-staff-report-for-the-2014-article-iv-consultation-42718/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/morocco-staff-report-for-the-2014-article-iv-consultation-42718/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/morocco-staff-report-for-the-2014-article-iv-consultation-42718/bundle-manifest.json)

## Bibliographic details
- Published: February 23, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498381642.002

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### Summary
- 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 outlook and recent performance
- 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.

### Major challenges identified
- Reduce fiscal vulnerabilities.
- Reduce external vulnerabilities.
- Strengthen growth.
- Create jobs.
- Tackle poverty.

### Subject coverage and keywords
- 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.

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## Content in this bundle

- **Cr1543**
  - [Cr1543 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2015/_cr1543.pdf){rel="external" type="application/pdf"}
- **Maroc: Consultations de 2014 au Titre de l’article IV; Rapport du FMI No. 15/43; 23 Janvier 2015**
  - [Maroc: Consultations de 2014 au Titre de l’article IV; Rapport du FMI No. 15/43; 23 Janvier 2015 (PDF)](/-/media/websites/imf/imported-publications/external/french/pubs/ft/scr/2015/_cr1543f.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/morocco-staff-report-for-the-2014-article-iv-consultation-42718_