Rabat - The Moroccan economy has remarkably improved during the last fifteen years, says a new report released on Monday, December 8th.
Rabat – The Moroccan economy has remarkably improved during the last fifteen years, says a new report released on Monday, December 8th.
The report issued by the Al Jazeera Centre for Studies and Research praised the kingdom’s economic policies during the last fifteen years, saying that the Moroccan economy has witnessed a remarkable progression mainly due to the economic policy pursued by King Mohammed VI, that is based on maintaining the economic balance and strengthening Morocco’s economic relations with the rest of the world.
After 15 years of the rule of King Mohammed VI, the report says, the macroeconomic level has been marked by a steady improvement, with the growth rate reaching 4%, and the unemployment rate stood at 10% in 2014.
The report, conducted by researcher and academic Younes Belfelah, added that since the accession of Mohammed VI to the Moroccan throne fifteen years ago, the features of an economic policy aiming at making Morocco among the world’s emerging countries has started to become clear.
On this basis, the report highlights, there has been a focus on infrastructure and special programs directed to multiple economic sectors such as the agricultural sector, the 2020 vision for tourism and foreign trade. The report pointed out that these steps have made it necessary for Morocco to economically cooperate with various countries. This is represented in the agreements of free exchange and the advanced status with the European Union, in addition to strengthening the African dimension in economic relations which will contribute to the opening of new markets for Morocco.
The report also stressed that Morocco’s political stability has contributed to a significant jump in the investment field, adding that the kingdom was ranked 71 globally in the classification of the World Bank’s report on business environment, and this is due mainly to the block of direct foreign investments Morocco has been able to attract that is estimated at $5.3 billion in 2014.
The report, prepared based on indicators provided by international and national institutions, called on Morocco to complete the work on establishing modern institutions capable of supporting the ambitious economic strategies and to realize the development aspirations by supporting Moroccan businesses and human resources.