No country has escaped the social and economic impact of the coronavirus pandemic, but some have bagged more financial support than others. By MEES’ count, Morocco has been pledged or received at least $6.4bn in Covid-19 related funding to support its budget and external position this year (see table).
The Covid-induced slump in economic activity has put Morocco on track for a record 6-7% GDP contraction, according to the IMF (MEES, 20 November). Exports and tourism have collapsed just as Rabat needs to boost spending, so the fiscal deficit has ballooned. (CONTINUED - 313 WORDS)