Country Report

The Report: Morocco 2014
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After 2.7% growth in 2012, economic activity in Morocco ramped up in 2013, increasing by 4.4% as GDP hit Dh864.6bn (€76.8bn), driven in large part by the agricultural sector. The kingdom faces exogenous challenges – such as low external demand and high commodity prices – as well as domestic complications including a fiscal deficit and unemployment, but following the government reshuffle in m

Analysis

Eyes on all horizons: A concerted effort is being made to boost trade volumes
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Historically referred to as the land behind the beyond, or the land at the end of the world, Morocco has long capitalised on its location between Europe, the Middle East and Africa. The kingdom has in recent years begun to try to position itself as a gateway to West Africa, strengthening bilateral ties with countries such as Gabon and Côte d’Ivoire, but there is a more immediate attraction for…

Analysis

Backed to succeed: Provision of support for smaller businesses is a growing theme
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As in other developing countries, small and medium sized enterprises (SMEs) and very small businesses (VSBs) play an important role in Morocco’s economy. The head of the cooperation service at the National Agency for SME Promotion (Agence Nationale pour la Promotion des Petites et Moyennes Entreprises, ANPME), Houssam Fathi, told OBG that SMEs account for almost 95% of all registered businesses,…

Analysis

Broadening the base: The 2014 Finance Law is focused on redressing fiscal imbalances
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Fiscal reform has long been a policy priority in Morocco, although with rural development, youth employment and trade balances also competing for attention, addressing the issue has always been rather tricky. While not revolutionary, the recently approved 2014 budget goes some way towards tackling a number of the more salient weaknesses in Morocco’s fiscal framework. Somewhat more austere in…

Analysis

Necessary measures: Major efforts to lower the nation’s twin deficits
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A move to reduce fuel subsidies is expected to help the government’s efforts to strengthen its balance sheets. Largely as a result of a protracted slowdown in Europe, the primary trade partner and major source of foreign direct investment, Morocco’s “twin” (fiscal and trade) deficits have risen steadily in the past five years. In addition to lower demand from the Eurozone, an increase in…

Analysis

On the up and up: The government is taking action to ensure the progress of recent years continues
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Over the past 10 years Morocco has changed significantly. Visitors to Casablanca, Tangiers or Agadir now explore cities that are substantively different from their 2004 incarnations, with new tramways, taller buildings and faster internet. The country’s economy has changed in an equally dramatic fashion, with impressive progress made in some critical areas. Plenty of challenges remain –…