{
  "title": "Morocco: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Morocco",
  "publication": "IMF Staff Country Reports, March 12, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/03/12/morocco-2017-article-iv-consultation-press-release-staff-report-and-statement-by-the-45713",
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  "summary": "This 2017 Article IV Consultation highlights that economic growth in Morocco has picked up in 2017 and is expected to reach 4.4 percent, mostly driven by a significant rebound in agricultural activity while nonagricultural activity remains subdued. The unemployment rate increased to 10.",
  "sections": [
    {
      "heading": "Macroeconomic growth and drivers",
      "content": "- Economic growth in Morocco has picked up in 2017 and is expected to reach 4.4 percent.\n- The pickup is mostly driven by a significant rebound in agricultural activity.\n- Nonagricultural activity remains subdued."
    },
    {
      "heading": "Labor market",
      "content": "- The unemployment rate increased to 10.6 percent in Q3:2017 (year-over-year).\n- Youth unemployment remains high at 29.3 percent."
    },
    {
      "heading": "Inflation",
      "content": "- Headline inflation (year-over-year) is expected to decline to 0.6 percent in 2017, reflecting lower food prices."
    },
    {
      "heading": "External sector and trade",
      "content": "- Following a marked deterioration in 2016, the current account deficit is projected to improve in 2017 to 3.9 percent of GDP.\n- Improvement primarily reflects Morocco’s global environment, particularly the stronger recovery in Europe.\n- Strong export growth is noted, mostly owing to the good performance of food product and phosphate and derivatives exports."
    },
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      "content": "- Publication date: March 12, 2018\n- Series: Country Report No. 2018/075\n- Issue: 075\n- Volume: 2018\n- Pages: 70\n- Stock No: 1MAREA2018002\n- ISBN: 9781484346396\n- ISSN: 1934-7685\n- Subjects: Banking, Credit, Exchange rate flexibility, External debt, Financial institutions, Foreign exchange, Loans, Money, Public debt\n- Keywords: Africa, CR, Credit, dirham exchange rate, e-government platform, exchange rate, Exchange rate flexibility, fiscal policy, Global, government, grant revenue, IMF staff estimate, insolvency regime, ISCR, Loans, Maghreb, reform implementation, sound fiscal policy\n\nInternational Monetary Fund. Middle East and Central Asia Dept. \"Morocco: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Morocco\", IMF Staff Country Reports 2018, 075 (2018), accessed 9/11/2026\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 12, 2018",
    "Series: IMF Staff Country Reports",
    "Economic growth in Morocco has picked up in 2017 and is expected to reach 4.4 percent.",
    "The pickup is mostly driven by a significant rebound in agricultural activity.",
    "Nonagricultural activity remains subdued.",
    "The unemployment rate increased to 10.6 percent in Q3:2017 (year-over-year).",
    "Youth unemployment remains high at 29.3 percent.",
    "Headline inflation (year-over-year) is expected to decline to 0.6 percent in 2017, reflecting lower food prices.",
    "Following a marked deterioration in 2016, the current account deficit is projected to improve in 2017 to 3.9 percent of GDP.",
    "Improvement primarily reflects Morocco’s global environment, particularly the stronger recovery in Europe.",
    "Strong export growth is noted, mostly owing to the good performance of food product and phosphate and derivatives exports.",
    "Publication date: March 12, 2018",
    "Series: Country Report No. 2018/075",
    "Issue: 075",
    "Volume: 2018",
    "Pages: 70",
    "Stock No: 1MAREA2018002",
    "ISBN: 9781484346396",
    "ISSN: 1934-7685",
    "Subjects: Banking, Credit, Exchange rate flexibility, External debt, Financial institutions, Foreign exchange, Loans, Money, Public debt",
    "Keywords: Africa, CR, Credit, dirham exchange rate, e-government platform, exchange rate, Exchange rate flexibility, fiscal policy, Global, government, grant revenue, IMF staff estimate, insolvency regime, ISCR, Loans, Maghreb, reform implementation, sound fiscal policy",
    "**Country Report**"
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