Algeria: The Algerian economy contracted by 4.9 per cent in 2020 as a result of the global response to the Covid-19 pandemic, according to the IMF, and is only estimated to grow by 3.4 per cent in 2021 and 1.9 per cent in 2022 – far short of a recovery growth figure that could compensate for the economic losses of the year 2020.
Morocco: Morocco has struggled with the impact of the global health crisis and the ensuing restrictions. After experiencing 6.2 per cent contraction in its GDP in 2020, the country’s economy is said to be recovering at a rate of 5.7 per cent in 2021 and 3.1 per cent in 2022, according to the recent IMF forecasts.
Tunisia: Tunisia’s economy has struggled during the Covid-19 pandemic with a contraction of 8.5 per cent in its GDP growth. The budget deficit reached 11 per cent of GDP and the public debt-to-GDP ration rose to nearly 90 per cent. As per the latest IMF estimates, the economy is estimated to have grown by 3 per cent in 2021 and is projected to grow by 3.3 per cent in 2022.