MENA region: IMF forecasts growth to reach 2.2% in 2024 & 4% in 2025

Growth in the Middle East and North Africa region (MENA) is projected to increase from 1.8% in 2023 to 2,2% in 2024 and 4% in 2025, the International Monetary Fund (IMF) said Tuesday.

This is a downward revision from the April projections, the IMF pointed out in its World Economic Outlook (WEO) report.

In April, the Washington-based institution was projecting a growth of 2,7% in 2023 and 4,2% in 2024 in the MENA region.

In the April’s edition of the World Economic Outlook, the IMF said that Morocco’s economy is expected to grow by 3.1% this year before rising to 3.3% in 2025.

Inflation in the Kingdom is projected to reach 2.2% this year and 2.5% in 2025, the international financial institution added.

The unemployment rate in Morocco would reach 12% this year and 11.5% in 2025, the report pointed out.