Geneva - Morocco has moved up five places to 72nd place in the 2014-2015 report, which assesses the competitiveness landscape of 144 economies, providing insight into the drivers of their productivity and prosperity.
Geneva – Morocco has moved up five places to 72nd place in the 2014-2015 report, which assesses the competitiveness landscape of 144 economies, providing insight into the drivers of their productivity and prosperity.
According to WEF experts, Morocco’s progress is mainly the result if a reduced budget deficit (between 2012 and 2013) and improvements in primary education and innovation.
Some aspects of its institutions have improved as well, reflecting Morocco’s relative social and political stability and efforts made over recent years to modernize its business environment, particularly its administrative aspects, the report points out.
In this regard, the report notes that continuing the process of economic diversification, which has already boosted exports and FDI in higher-value-added industries, will be important for the country’s future growth.
It also underlines that building on its competitiveness strengths, such as physical security (39th), some positive aspects of goods markets efficiency (e.g., 32nd on number of procedures to start a business), and a rather solid and efficient banking sector (42nd on soundness of banks), Morocco should continue its successful efforts to address key competitiveness challenges.
WEF experts encourage the kingdom to take some necessary measures, such as boosting education (104th) in terms of both quality and access, and reforming its labor market (111th).
This year’s Report provides an overview of the competitiveness performance of 144 economies, and thus continues to be the most comprehensive assessment of its kind globally. It contains a detailed profile for each of the economies included in the study, as well as an extensive section of data tables with global rankings covering over 100 indicators.
The top of the rankings continues to be dominated by highly advanced Western economies and several Asian tigers. For the sixth consecutive year, Switzerland leads the top 10, and again this year Singapore ranks as the second-most competitive economy in the world. Overall, the rankings at the top have remained rather stable, although it is worth noting the significant progress made by the United States, which climbs to 3rd place this year, and Japan, which rises three ranks to 6th position.