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00:00 Will Morocco's economy recover in 2024, especially after the recent talks that the state held with the IMF?
00:10 In the beginning, if we look at inflation data, and specifically the annual inflation rate during January,
00:18 we notice that it has slowed to 2.3% compared to December when it was 3.4%.
00:28 Also, if we look at the basic inflation in Morocco, we notice that it has increased 2.9% annually during January,
00:38 at that time, due to the increase in food prices.
00:43 It is true that food prices have also slowed in Morocco during January,
00:49 but high rates are still recorded and pressure is on inflation.
00:55 In this context, regarding the IMF and the recent talks it held with Morocco,
01:02 we note that it called on the Central Bank of Morocco to specify a goal for inflation,
01:08 with the pressure on rising prices in 2024,
01:14 and also expected a 3.5% growth in the Moroccan economy over the medium term.
01:21 Also, in this context, we point out that the Central Bank of Morocco
01:26 remained at the same rate of interest without any change at 3% in its meeting in December.
01:34 If we look at the expectations of the Central Bank of Morocco,
01:39 we notice that it expects to reduce the financial deficit from the local income
01:44 to 4.5% in 2024 and 3.9% in 2025.
01:53 In this context, we point out that the IMF also pointed out the need to accelerate structural reforms
02:01 to strengthen growth rates in Morocco.
02:04 We note that regarding the high demand for planning,
02:08 there are expectations of a 2.4% growth in the Moroccan economy during the first quarter of 2024.
02:17 If we look at the details, we also note that the Central Bank of Morocco
02:23 expected to increase the exports of cars,
02:26 as well as the tourism contracts and the transfer of foreign currency.
02:30 This will contribute to maintaining foreign currency reserves at $35.8 billion for 2024.
02:39 The question remains, will Morocco's economy really thrive during the current year?
02:45 [BLANK_AUDIO]