Morocco: Country Economic Forecast: 20 Jan 2012

Oxford Economics
January 20, 2012
5 Pages - SKU: OFE6775361
Countries covered: Morocco

Elections in November saw the Justice and Development Party (PJD), a moderate Islamic party, winning the largest number of seats in the parliament. King Mohammed has appointed PJD leader Benkirane as premier, at the head of a four-party coalition. The PJD has promised greater democracy and will try to tackle inequality by raising the minimum wage, but it faces big challenges –unemployment remains high and recession in the EU, its main trade partner and largest source of tourists and remittances, will weigh on growth prospects. GDP growth picked up to 4.8% in Q3, with nine-month growth just over 4.5%. Although heavy state spending, on higher wages and subsidies, has supported domestic demand, exports and tourism will be hit by the sharp slowdown in the EU and growth is likely to decelerate. For 2012, we now forecast growth of 3.7%, down from an estimated 4.7% in 2011. Inflation remains generally subdued, helped by government subsidies, and is expected to have averaged 1% in 2011. The rate is likely to average 2.5% in 2012. The trade deficit rose by 25% to US$21bn last year as imports outpaced exports. And despite solid tourism revenues and workers' remittances, the current account deficit is estimated to have risen to 7.5% of GDP, up from just over 4% in 2010. The deficit is forecast to widen marginally this year, but could deteriorate more significantly if the grain harvest really disappoints.



More International Trade reports by Oxford Economics

Country Economic Forecasts - Taiwan by Oxford Economics
Country Economic Forecasts - TaiwanTaiwan GDP surprised on the upside in Q2 as private consumption rebounded after weakness in Q1 while export volumes continued to ...
Country Economic Forecasts - India by Oxford Economics
Country Economic Forecasts - IndiaThere was widespread optimism that the new government would be able to turn around India’s economic fortunes.Although the BJP government has ...
Country Economic Forecasts - Eurozone by Oxford Economics
Country Economic Forecasts - EurozoneThe Eurozone’s already-insipid recovery slowed further in the second quarter of the year, with quarterly GDP growth dipping from 0.3% in ...
Country Economic Forecasts - Canada by Oxford Economics
Country Economic Forecasts - CanadaThe economy speeded up in May, with the monthly measure of GDP rising by 0.4% on the month.This followed a subdued ...
See all reports like this >>

More Morocco International Trade reports

Business Forecast Report - Morocco Q4 2014 by Business Monitor International
Business Forecast Report - Morocco Q4 2014Core ViewsDespite not possessing hydrocarbon wealth, the economy will remaina relative outperformer in North Africa over the medium term. ...
International Strategic Analysis: Morocco - ISA Country Report by ISA (International Strategic Analysis)
International Strategic Analysis: Morocco - ISA Country Report - This report contains detailed forecasts and analysis for Morocco, including trade and investment analysis, economic forecasts, ...
Country Forecast Morocco July 2014 by The Economist Intelligence Unit
Country Forecasts focus on the key factors affecting a country's political and economic outlook and its business environment five years ahead. Each report covers an ...
Country Report Morocco July 2014 by The Economist Intelligence Unit
Country Reports analyse political and economic trends in featured countries. They show you exactly how national, regional and global events will affect your business in ...
See all reports like this >>

More Morocco reports

D&B Country RiskLine Report: Morocco by Dun & Bradstreet Inc.
This D&B Country RiskLine Report will help you analyze the risks, opportunities and likely payment delays when doing business in this country. It includes ...
D&B Country Report: Morocco by Dun & Bradstreet Inc.
D&B Country Report. Comprehensive information for evaluating risks and opportunities when trading or investing in this country. Providing critical information and analysis on ...
See all reports like this >>

 

SELECT A LICENSE

    Online Download  USD 175  
    Global Site License  USD 438  
 
US: 800.298.5699
Int'l: +1.240.747.3093
 

Share this report


    Other tasks

     
     
    Join Alert Me now!
    Receive bi-weekly email alerts on new market research

    Sign up today!