Morocco Economic Monitor, July 2020
This report presents the current outlook for Morocco given the recent Coronavirus 2019 (COVID-19) developments. The COVID-19 shock is, however, abruptly pushing the economy into a severe recession, the first one since 1995. The labor market is faci...
| Main Author: | |
|---|---|
| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2020
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/278731594708906277/Morocco-Economic-Monitor http://hdl.handle.net/10986/34113 |
| Summary: | This report presents the current outlook
for Morocco given the recent Coronavirus 2019 (COVID-19)
developments. The COVID-19 shock is, however, abruptly
pushing the economy into a severe recession, the first one
since 1995. The labor market is facing a shock of historical
proportion, with vulnerable workers, including those in the
informal sector being particularly affected. The
government’s response to date has been swift and decisive.
The proactive response has enabled the country to avoid a
massive outbreak, thus saving lives. The post-pandemic
economic recovery is projected - with unusually large
uncertainty - to be a protracted one, with growth only
returning to the pre-pandemic trend by 2022. Faced with the
risk of a protracted pandemic, moving from mitigation to an
adaptation phase is key to ensuring a resilient, inclusive,
and growing Moroccan economy. Despite potential volatility
in the economic recovery phase, Morocco has an opportunity
to build a more sustainable and resilient economy by
developing a strategy to adapt, similar to its approach to
the environment front. |
|---|