Rabat - Morocco has slipped one place in the Global Competitiveness Index, according to a report released on Tuesday September 26 by the World Economic Forum (WEF).
Rabat – Morocco has slipped one place in the Global Competitiveness Index, according to a report released on Tuesday September 26 by the World Economic Forum (WEF).
The Moroccan economy has gone from 70th place to the 71st in the pastyear, while remaining first in the Maghreb, fifth in Africa, and eighth in the Arabic-speaking world.
This annual report ranks 138 countries across a range of indicators determining competitiveness such as institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, and innovation.
Morocco’s ranking was damage dmainly by its poor performance in indicators related to labor market efficiency and the quality of primary and higher education, which it ranked 120th and 101st, respectively.
Moroccan economy is also lagging behind in innovation,taking 94th place. Morocco will be left behind by competitors in the global market if it doesn’t increase itsefforts in science, technology and innovation, economists have warned.
The report also shed the light on corruption, which remains one of the main problems affecting the business environment in the kingdom. Efforts must also be made in the areas of bureaucracy, access to finance, and taxation, noted the WEF.