Morocco

Improved fiscal management and economic diversification have strengthened the resilience of Morocco’s economy in recent years. Yet, economic growth, at 3 percent in 2018, has not been robust enough and unemployment remains high, especially among the youth. This reinforces the need for sustaining the recent momentum in reforms toward higher and more inclusive growth, buttressed by the private sector. Key priorities include improving the quality of the education system, the functioning of the labor market, female labor force participation, and the business environment. Since 2012, the Fund has been actively engaged with Morocco through four two-year Precautionary Liquidity Line (PLL) arrangements, the last one approved in December 2018.