imf commends morocco’s ‘sound’ macroeconomic policiesreforms
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

IMF Commends Morocco’s ‘Sound’ Macroeconomic Policies & Reforms

Arab Today, arab today

Arab Today, arab today IMF Commends Morocco’s ‘Sound’ Macroeconomic Policies & Reforms

The International Monetary Fund
Casablanca - Arab Today

The Executive Board of the International Monetary Fund (IMF) commended Morocco’s “sound” macroeconomic policies and reforms.

“Executive Directors commended the authorities for their sound macroeconomic policies and reforms, which have helped reduce domestic and external vulnerabilities, enhance the fiscal and financial policy frameworks, and increase economic diversification,” the IMF said in a statement released on Friday.


IMF’s Executive Board, which concluded 2016 Article IV Consultation with Morocco, welcomed “the authorities’ continued strong commitment to sound policies, and encouraged them to sustain their reform efforts to further reduce vulnerabilities and promote stronger job creation and more inclusive growth.” “Morocco’s macroeconomic conditions have improved since 2012, but growth has remained sluggish,” the IMF noted, adding that in 2016, growth “slowed due to a sharp contraction in agricultural output and subdued non-agricultural activity.”

Morocco’s medium-term prospects are favorable, with growth expected to rebound to 4.4 percent in 2017 and reach 4.5 percent by 2021,” the IMF said, noting that “risks remain substantial, and relate mainly to growth in advanced and emerging countries, geopolitical tensions in the region, world energy prices, and global financial market volatility.”

“Stronger medium-term growth will hinge on continued implementation of comprehensive reforms with regard to labor participation and labor market efficiency, access to finance, quality education, public spending efficiency, and further improvements to the business environment,” it said. “Directors commended the continued progress made in fiscal consolidation, particularly the recent containment of current spending, the energy subsidy reform, and the reform of the public pension system,” the source pointed out.

“Going forward, they encouraged the authorities to gradually reduce the level of public debt over the medium term while preserving pro growth and social spending. Directors agreed that efforts should focus on accelerating tax reforms to broaden the tax base and on careful and well planned implementation of the fiscal decentralization to mitigate any related fiscal risks.”

“Directors also encouraged the authorities to reform the civil service to help contain the public wage bill,” the statement said, adding that directors “supported the authorities’ intention to move gradually to a more flexible exchange rate regime and a new monetary policy framework, which will help preserve competitiveness and better insulate the economy against shocks.” “Directors emphasized the importance of sustained implementation of structural reforms to promote higher and more inclusive growth. They recommended continued efforts to improve the business climate, particularly for small and medium sized enterprises, including by enhancing their access to financing,” it said.

Source :Morocco World News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf commends morocco’s ‘sound’ macroeconomic policiesreforms imf commends morocco’s ‘sound’ macroeconomic policiesreforms

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf commends morocco’s ‘sound’ macroeconomic policiesreforms imf commends morocco’s ‘sound’ macroeconomic policiesreforms

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation

GMT 15:39 2018 Friday ,14 December

Electricity minister receives MANTECH delegation

GMT 13:27 2018 Tuesday ,11 December

France and the crisis of democracy

GMT 19:51 2017 Wednesday ,13 September

DEWA MD and CEO welcomes Ambassador of South Sudan to UAE

GMT 11:14 2017 Thursday ,20 April

Serena Williams factbox

GMT 19:32 2015 Sunday ,13 September

Confucius family tree to include more descendants

GMT 18:47 2017 Friday ,02 June

Arab League condemns blast in Iraq

GMT 14:33 2018 Wednesday ,12 December

Political turbulence likely to continue unabated in 2019

GMT 13:18 2016 Saturday ,10 December

Foreigners purchase shares worth AED2.5 bn on Dubai

GMT 09:47 2016 Friday ,16 December

Syria security source: Aleppo evacuation suspended

GMT 06:19 2017 Saturday ,08 April

Bahrain to host AVA General Assembly
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday