MOROCCO, SLOW MOTION OF THE SEVENTH AFRICAN ECONOMY
The World Bank has recently issued a list of the main African economies, which sees Morocco receding a position compared to the previous year. In fact, the leadership at the continental level is in Nigeria (with a GDP of 375.7 billion dollars in 2017), followed by: South Africa ($ 349.4 billion), Egypt ($ 235.3 billion), Algeria ($ 170.3 billion), Angola ($ 124.2 billion) and Sudan ($ 117.4 billion). Morocco is ranked seventh among the major economies in Africa, with GDP estimated at $ 109.1 billion in 2017. The High Commissioner for the Plan – Moroccan institution responsible for statistical elaborations and economic planning – has announced that the 2018 will see a slowdown in the economic growth of the North African Kingdom. Ahmed Lahlimi Alami, head of HCP, has in fact declared that GDP should increase this year by + 3.1%, registering a decrease of one percentage point compared to 2017 (+ 4.1%). During a press conference, the High Commissioner also stated that inflation estimates for 2018 (+ 1.7%) are appreciably higher than the consumer price dynamics recorded last year (+ 0, 8%). The trade deficit (from 17.9% in 2017 to 18.5% of GDP in 2018) and the government deficit (from 3.4% in 2017 to 3.9% in 2018) are also expected to deteriorate slightly. The total debt ratio will increase slightly (from 82% in 2017 to 82.6% in 2018), while the public debt (of the Treasury) will be about 65.7% of GDP in 2018. According to Ahmed Lahlimi Alami, the slowdown in Moroccan economic growth will lead to a slight worsening in the unemployment rate, which would rise from 10.2% in 2017 to 10.4% this year.