(Agence Ecofin) – Struggling with a drought affecting its agricultural production, Morocco’s economic growth is expected to reach 2.6% this year compared to 3.4% in 2023, supported by robust non-agricultural production and dynamic domestic demand, a indicated the IMF.
The International Monetary Fund (IMF) has announcement on Tuesday, November 12, the disbursement of $415 million to Morocco under the Resilience and Sustainability Facility (FRD). This financial support, which is part of a global program of $1.3 billion over 18 months, aims to strengthen the country’s capacity to cope with climate shocks and accelerate its transition to a sustainable economy.
At the end of the second review of the FRD program, the IMF welcomed the country’s progress, highlighting a “ effective implementation » climate and economic policies.
« Moroccan authorities continue to make steady progress in strengthening Morocco’s resilience to climate change, building on very strong fundamentals and policy frameworks and a sustained track record of effective policy implementation. Results achieved under the Resilience and Sustainability Facility (RSF) have been strong », We can read in the press release.
For Kenji Okamura, Deputy Managing Director of the IMF, the decarbonization of Morocco, accompanied by measures to protect the most vulnerable, is an essential step. “ Continued progress towards the liberalization of electricity markets, a key dimension of the FDR, is needed to boost private sector participation in renewable energy”he stressed.
Charlene N’dimon
Morocco
