Maghreb

RGE's Q1 2010 Outlook

The Maghreb’s economic prospects are set to improve in 2010 as better demand and capital from the EU boost non-commodity exports and better commodity demand supports the commodity exporters. Across the region, both inflation and growth should remain more muted than in 2007-8 but higher fuel costs are a risk for Morocco and Tunisia, which are net importers of several key commodities. RGE expects Morocco’s economy to improve in 2010, as private consumption and government expenditure offset still weak demand from the EU and muted tourism inflows. With its ties to the EU for investment, trade and tourism, the sluggish recovery of the EU is a risk, but the better outlook in the GCC is a support. With about 80% of Tunisian exports EU-bound, weak demand slowed export activity and economic growth in 2009 to a relative stall (1%). Even a sluggish EU recovery will boost exports and RGE expects a slight growth revival, well below the 5.1% pace of 2008.

Read the Q1 2010 Maghreb Outlook.

Read the Q1 2010 Morocco Outlook.

Read the Q1 2010 Tunisia Outlook.