Morocco

Morocco’s economy is poised to continue along its trajectory of economic growth, but GDP expansion rates will depend on the policy choices made by the government. Although estimates by the IMF project that annual growth rates will reach 4.5% in 2024, there is still the matter of ensuring that GDP growth translates into improving conditions across all segments of the population.

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Nations in the MENA region have been intensifying efforts to increase their food security, with Russia's invasion of Ukraine the most recent geopolitical event to underline the fragility of global supply chains, as well as the importance of agricultural self-sufficiency.

As demand for environmentally sustainable transport grows, a number of emerging markets are ramping up their efforts to incentivise the sale and production of electric vehicles (EVs).

Bernardo Bruzzone,  Africa Regional Editor, Oxford Business Group (OBG), recently spoke with Naoufal Lahlou, CEO of Promamec. 

The long-term vision of the Dakhla-Oued Eddahab region of Morocco is anchored in its advantageous geographic position as a commercial and logistical hub for North and West Africa, and an entry point for regional and continental investment.

Driven by a combination of higher commodity prices, the relaxing of lockdowns and a recovery in global trade, Africa has had some success in overcoming the recession provoked by the coronavirus pandemic and returned to growth in 2021.

While Morocco was severely impacted by the pandemic, it is projected to return to positive growth in the near term.

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