Monitoring Committee to Evaluate Coronavirus Impact on Moroccan Economy

Monitoring Committee to Evaluate Coronavirus Impact on Moroccan Economy

Just after the high commission for planning Ahmed Lahlimi told Reuters and Bloomberg that Morocco’s economic growth could sink to as low as 2% in 2020 from a previous estimate of f 3.5%, the Ministry of Economy & Finance announced, on Wednesday, the setting-up of an Economic Monitoring Committee that will assess the impact of coronavirus.

The committee is part of the government’s efforts to anticipate the direct and indirect economic impact of the novel cornavirus epidemic (Covid-19) on national economy.

The committee is tasked with monitoring closely the development of the economic situation through evaluation mechanisms and identifying appropriate measures to provide support for the affected sectors, the ministry said in a release.

The minister of Economy & Finance will coordinate the action of the Committee, which includes members of the government and employers’ unions. The committee could include, if necessary, other public or private stakeholders, the Finance ministry said, noting that the various members of the committee are expected to set up sectoral monitoring mechanisms within their respective areas of competence and involve, in this endeavor, the relevant actors.

As the world economy is currently slowing down, with many factories in China and elsewhere shut down, a paralyzed world trade, a restricted air traffic and a badly hit tourism sector, Morocco will surely feel the impact.

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