Rabat - For the third year in a row, Morocco ranked highest in North Africa in the annual global Prosperity Index, a survey that ranks the most prosperous countries in the world.
Rabat – For the third year in a row, Morocco ranked highest in North Africa in the annual global Prosperity Index, a survey that ranks the most prosperous countries in the world.
The index was released by the London-based Legatum Institute on Monday.
In the Prosperity Index, which coveres 142 territories. Morocco ranked 79 overall, up six spots compared to last year, when it landed at 85. Neighboring Algeria ranked 96, while Tunisia ranked 97.
According to the index, Morocco was ranked 73 in 2012 before moving down to the 82 in 2013. However, the report warns of underlying weakness in Morocco, as unemployment has risen and job market expectations are among of the lowest in the MENA region.
“Social support has fallen 20 points in Morocco since 2009,” the report noted. “Employment is also down from 45 percent in 2012 to just 34 percent today, and unsurprisingly job market optimism is down from 43 percent in 2013 to just 20 percent today,” the same source added.
The annual Legatum Prosperity Index ranks 142 countries across eight categories: the Economy; Entrepreneurship & Opportunity; Governance; Education; Health; Safety & Security; Personal Freedom; and Social Capital.
Globally, Norway was named the world’s most prosperous country for the seventh year in a row. Norway’s neighboring countries Denmark and Sweden also made it to the top five.
Edited by Timothy Filla