The Moroccan economy is expected to grow by 4.5% in 2012-2016.
3 January 2012
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The British think tank reviews the prospects and potential of the Moroccan economy.
The Moroccan economy is expected to see growth of around 4.5% between 2012 and 2016, according to the British think tank, The Economist Intelligence Unit (EIU, part of The Economist Group).
The think tank, which highlighted Morocco's strategies for economic diversification and strengthening the service sector, noted that Moroccan Gross Domestic Product (GDP) would remain "vulnerable" to fluctuations in agricultural production, a sector that employs almost 40% of the workforce.
The economy is expected to grow by 4.3% in 2011 due to a large increase in cereal production of 13%, which will help private consumption throughout 2012, the think tank indicates in its December monthly report on Morocco. In the long term, the role of non-agricultural sectors should strengthen thanks to Morocco's efforts to promote the manufacturing sector and offshoring industries, the EIU continues, citing the start of production at the Renault plant in Tangier.
Morocco wants to see this project generate more investment, says the source, stressing that other manufacturing sectors will need to continue their expansion alongside those of infrastructure, energy and tourism. The expansion of the Tangier-Med port will add a significant logistical dimension to the growth of the service sector, observes the think tank, stressing that the major projects launched by Morocco in the housing and infrastructure sectors will help the country overcome the impact of the international crisis on investment in the tourism sector. Private consumption should be strengthened thanks to the positive performance of the agricultural sector, estimates the EIU, noting that public works should generate new jobs.
"Investment will consolidate at a sustained pace thanks to projects financed by the government and international players," the think tank continues, noting that in the long term, these projects are likely to strengthen Morocco's attractiveness as a destination for foreign direct investment. The British think tank also notes that Moroccan exports will continue to be impacted by competition from countries with lower compensation systems and the crisis in Europe. The think tank did not fail to highlight the good performance of the national currency and Morocco's success in keeping inflation low.
Lematin.ma
Published December 21, 2011.
Posted online January 3, 2012.
The Moroccan economy is expected to see growth of around 4.5% between 2012 and 2016, according to the British think tank, The Economist Intelligence Unit (EIU, part of The Economist Group).
The think tank, which highlighted Morocco's strategies for economic diversification and strengthening the service sector, noted that Moroccan Gross Domestic Product (GDP) would remain "vulnerable" to fluctuations in agricultural production, a sector that employs almost 40% of the workforce.
The economy is expected to grow by 4.3% in 2011 due to a large increase in cereal production of 13%, which will help private consumption throughout 2012, the think tank indicates in its December monthly report on Morocco. In the long term, the role of non-agricultural sectors should strengthen thanks to Morocco's efforts to promote the manufacturing sector and offshoring industries, the EIU continues, citing the start of production at the Renault plant in Tangier.
Morocco wants to see this project generate more investment, says the source, stressing that other manufacturing sectors will need to continue their expansion alongside those of infrastructure, energy and tourism. The expansion of the Tangier-Med port will add a significant logistical dimension to the growth of the service sector, observes the think tank, stressing that the major projects launched by Morocco in the housing and infrastructure sectors will help the country overcome the impact of the international crisis on investment in the tourism sector. Private consumption should be strengthened thanks to the positive performance of the agricultural sector, estimates the EIU, noting that public works should generate new jobs.
"Investment will consolidate at a sustained pace thanks to projects financed by the government and international players," the think tank continues, noting that in the long term, these projects are likely to strengthen Morocco's attractiveness as a destination for foreign direct investment. The British think tank also notes that Moroccan exports will continue to be impacted by competition from countries with lower compensation systems and the crisis in Europe. The think tank did not fail to highlight the good performance of the national currency and Morocco's success in keeping inflation low.
Lematin.ma
Published December 21, 2011.
Posted online January 3, 2012.
