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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…

Overview

Amid regional instability, Morocco remains a source of sustainable progress
OBG
plus

A melting pot of indigenous Berber, African, Arab and European influences, the kingdom of Morocco, meaning “the West” in Arabic, is the world’s most-westerly Arab country, located at the apex of north-west Africa and across the 14-km Strait of Gibraltar from Spain. Having benefitted from its advantageous geographic location and diverse cultural heritage for centuries, Morocco has been…

Overview

Moroccan banking sector enhanced by Islamic financial services and regulatory reform
OBG
plus

Morocco’s banking sector is already the most highly developed in North Africa in terms of penetration indicators and among the most advanced in the wider MENA region. The industry, which is in the midst of a recovery in lending growth rates, now stands on the verge of another substantial step forward in development, thanks to the imminent launch of both an Islamic banking sector – backed…

Overview

Morocco enjoys a reputation for economic openness and stability
OBG
plus

As a historic link between Europe, the Middle East and North Africa, the kingdom of Morocco has long served as an important political juncture. The country’s 12 regions range from Mediterranean ports to the rugged Atlas Mountains and the vast Sahara. The kingdom’s political and cultural dynamics are equally diverse, shaped by Arab, Berber, European and West African influences. To date,…

Overview

Innovative reforms spur insurance sector growth in Morocco
OBG
plus

The Moroccan insurance market has seen rapid growth and large-scale regulatory reform with the foundation of an Islamic insurance sector as well as new forms of compulsory insurance. The kingdom is already the best-developed insurance market in North Africa, as well as a major force in the African market, and these changes – together with plans to liberalise distribution regulations – should…

Overview

Innovative reforms spur insurance sector growth in Morocco
OBG
plus

The Moroccan insurance market has seen rapid growth and large-scale regulatory reform with the foundation of an Islamic insurance sector as well as new forms of compulsory insurance. The kingdom is already the best-developed insurance market in North Africa, as well as a major force in the African market, and these changes – together with plans to liberalise distribution regulations – should…

Overview

Manufacturing industry central to Morocco's exports
OBG
plus

The need to diversify production capacity and create jobs has been pushing Morocco to invest in its industrial sector. Outlining the expansion of manufacturing under a series of government-led programmes, a host of emerging sectors are gradually becoming essential for the country’s export capacity. Through the creation of interlinked production clusters, both the government and private investors…

Overview

Morocco's attention shifts towards agri-business and diversification of exports
OBG
plus

Accounting for 15% of GDP in 2016, agriculture remains a key contributor to Morocco’s economy. The sector generates nearly 40% of employment and over 10% of exports, while the kingdom is the world’s top exporter of capers, white beans and argan oil, and is third in canned olives, and fourth in tomatoes and clementines. Launched in 2008, the Green Morocco Plan (Plan Maroc Vert, PMV), the…

Overview

Tangiers established as Morocco's epicentre of a burgeoning, industry-rich region
OBG
plus

In the late 1990s King Mohammed VI chose to use Tangiers as a catalyst for the transformation of northern Morocco by turning the historically sidelined region into an engine of the national economy. While the region had lagged behind much of the country for decades, the late 1990s saw the launch of King Mohammed VI’s economic development plan, leveraging Tangiers’ strategic location at…

Overview

Mobile and internet penetration rates in Morocco
OBG
plus

Following over a decade of high growth rates in the wake of liberalisation efforts in the late 1990s, Morocco’s telecoms sector is currently experiencing a slower rate of expansion. As operators and mobile users adopt new forms of mobile communication, the kingdom’s market is progressively moving away from the traditional voice-based business model. This is leading to new challenges in…