CATEGORY: Economic Snapshots
At home, Morocco has identified the reduction of social inequality as a key priority, setting in motion a series of reforms and transferring critical development funds to less-developed regions. Abroad, Morocco’s foreign policy objectives focus on spearheading intra-African cooperation and positioning itself at the centre of Europe-Africa relations. Gains were made on all these fronts in 2019, supported by growing GDP that reached $118.5bn in 2018. However, vulnerabilities remain in the form of a large agriculture sector dependent on weather and commodity prices, as well as a substantial energy import bill whose size is dictated by international oil and gas prices.