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Analysis

Innovative solutions still key to economic growth prospects in Morocco
OBG
plus

Galvanising the competitiveness of Moroccan firms is an important component of modernising the economy and boosting job creation. While there have been improvements, the adoption of innovation programmes and the establishment of a viable support system for entrepreneurs and start-ups have lagged, in part due to the regulatory environment. The 2017 Global Innovation Index (GII), jointly published…

Analysis

Fiscal reforms and favourable external environment stabilise Morocco's budget deficit
OBG
plus

Given its traditional dependence on energy imports, and agricultural volatility’s significant impact on economic performance, Morocco has witnessed long periods of fiscal imbalances. This is set to change, however, as structural improvements to the economy, coupled with a reduction in international oil prices, have helped the authorities commit to fiscal discipline by enacting a set of key…

Analysis

Modernisation of Morocco's waste-management infrastructure receives international support
OBG
plus

The kingdom is taking steps to improve the collection, processing and valorisation of waste. During the COP22 UN Conference on Climate Change, which took place in Marrakech in November 2016, the government signed funding agreements with the Dutch Development Bank (FMO) and the European Investment Bank (EIB) to enhance solid waste management. While progress has been slow, areas with potential…

Analysis

EU law regulations on data protection to affect Moroccan subcontractors
OBG
plus

In Morocco, the collection and processing of personal data is regulated by Law No. 09-08 relating to the protection of individuals with regard to the automatic processing of personal data, which was promulgated by Dahir (royal decree) No. 1-09-15 on February 18, 2009. Furthermore, the kingdom’s data protection legal framework is based on the Council of Europe’s Convention No. 108 of January…

Analysis

Islamic bank expansion in Morocco facilitated by updated regulations and new supervisory body
OBG
plus

With demand for sharia-compliant banking growing, Morocco has become the latest Muslim country to authorise Islamic banks. According to industry experts, these types of financial services could represent as much as 10% of the market. For a long time the country has been reluctant to privilege the development of the Islamic finance segment despite the overall resilience and maturity of the conventional…

Analysis

Flexible exchange rate expected to boost Moroccan exports and preserve low inflation
OBG
plus

The country is preparing to transition from a pegged exchange rate controlled by Bank Al Maghrib (BAM), the central bank, to a more flexible system. Under this new monetary policy framework, the exchange rate would be allowed to fluctuate within a regulated band set by BAM, with the central bank gradually widening the fluctuation window over the long term. As a net importer that depends heavily…

Analysis

Improved fiscal health and eurozone recovery supporting sustained growth in Moroccan capital markets
OBG
plus

As was expected, in 2016 the domestic economy registered one of its worst performances in several years against a backdrop of sharply contracting agricultural value added coupled with moderate growth in non-agricultural activity. In 2016 agricultural value added was heavily impacted by a severe shortage of rainfall, registering a contraction of almost 11%. The cereal harvest was only 33.5m…

Analysis

Reforms channels foreign investment into key economic sectors in Morocco
OBG
plus

A large part of Morocco’s ability to post stable growth rates over the past several years has been its capacity to attract foreign direct investment (FDI). An influx of investment has translated into new industrial developments, telecommunications expansion, tourism projects, energy production and infrastructure builds. Although the amount of FDI inflows registered a small reduction in 2016…

Analysis

Morocco builds its connections with African economies
OBG
plus

With an emphasis on diversifying its commercial partners, Morocco’s African strategy has sought to raise the kingdom’s political and economic profile, and extending its clout across the continent. Over the past decade, Moroccan investments in several African countries have been channelled towards financial services, industrial production and construction. Much of this economic drive has…

Analysis

Innovative solutions still key to economic growth prospects in Morocco
OBG
plus

Galvanising the competitiveness of Moroccan firms is an important component of modernising the economy and boosting job creation. While there have been improvements, the adoption of innovation programmes and the establishment of a viable support system for entrepreneurs and start-ups have lagged, in part due to the regulatory environment. The 2017 Global Innovation Index (GII), jointly published…