The Moroccan economy is expected to contract by -7% in 2020 before rebounding with 4.9% growth in 2021, according to the International Monetary Fund (IMF).

In its latest “World Economic Outlook” report released on Tuesday, the IMF says that unemployment is expected to stand at 12.5% in 2020 before falling to 10.5% in 2021, against 9.2% in 2019.

Inflation is expected to remain in 2020 at the same level as 2019, at 0.2%, before increasing to 0.8% in 2021, according to the Washington-based financial institution.

For its part, Morocco’s current account balance would stand at -7.3% in 2020 (-4.1% in 2019) and -5.2% in 2021.