Rabat – Despite a challenging global economic landscape, Morocco has managed to sustain its economic growth and strengthen its position in key sectors, Prime Minister Aziz Akhannouch announced on Monday.
Speaking in the House of Representatives, Akhannouch credited a series of government policies aligned with royal directives that have advanced Morocco’s role as a reliable partner and an attractive destination for investors on both regional and international levels.
During the parliamentary session focused on foreign trade, Akhannouch highlighted the country’s success in reinforcing ties with established allies while actively pursuing new markets.
This approach, he said, has transformed Morocco into a trade hub and a launchpad for mutually beneficial partnerships, fostering global economic integration.
The Prime Minister outlined several initiatives undertaken by the government to attract foreign investment and strengthen Morocco’s industrial and export sectors.
By implementing national reforms and liberalizing trade, Morocco has solidified its reputation as a regional leader and a destination for international firms.
Economic openness, Akhannouch noted, remains a central pillar of Morocco’s growth strategy, supported by mechanisms designed to create a business-friendly environment and encourage investment.
Despite economic turbulence worldwide, Morocco has shown resilience, achieving a growth rate of 3.4% in 2023, with an average growth of 4.4% over the last three years.
Akhannouch also cited a decline in inflation, which stood at 1.1% in the first nine months of 2024 compared to 6.1% at the end of 2023—rates he highlighted as favorable compared to other nations in the region.
Acknowledging external pressures, including the effects of geopolitical tensions on global supply chains, the Prime Minister noted Morocco’s continued efforts to enhance national sovereignty in key sectors.
This focus aims to safeguard the economy against global fluctuations while fostering self-reliance in strategic areas.
While the Prime Minister presented a positive outlook on the Moroccan economy, recent data from the High Commission for Planning (HCP) indicates a slight uptick in unemployment. In particular, the HCP reported a rise of 58,000 jobless individuals, pushing the national unemployment rate to 13.6%.
