Meknes – TheInternational Monetary Fund (IMF)estimates that Morocco’s gross domestic product (GDP) will increase by 4.5% in 2021 thanks to a retreat of drought and waning of the COVID-19 pandemic.In a press release, Roberto Cardarelli, the head of the IMF mission in Morocco, highlighted the expected effects of the drought and the COVID-19 crisis on GDP in 2020. This year’s GDP may witness a 6-7% contraction.Cardarelli estimates Morocco’s “fiscal and external deficits†will expand due to the economic recession that has hit tax revenues and the tourism sector. Morocco, however, has preserved external financing needs by adopting a resilient strategy of remittances and lowering imports,
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