Embassy of the Kingdom of Morocco

in Canberra

Morocco E-Newsletter

The African Development Bank states that Moroccan economy has developed 'resistance to
foreign impacts'

According to the report, which was presented recently in Rabat, overall investment increased in 2007 by 8.1% to increase the investment rate to 34.2% of GDP, against 31.6% in 2006, and should continue to grow in 2008 by 7.4%, chiefly because of major programs to speed up infrastructure work and tourist area improvements. AfDB and OCDE note that "Morocco is keen to meet the Millennium Development Goals (MDG), especially gender equality." "But despite substantial progress in promoting growth and employment to continue on this path, modernization of government services and the strengthening of the institutional and legal framework need to be pursued to consolidate its gains and entrench long-term growth and human development," the document concludes.


 

 

Source : Maghreb Arab Press

Medium-term economic prospects are good for Morocco, whose economy has developed through years a "resistance to foreign impacts," said recently the African Development Bank (AfDB). "Morocco's economic performance in recent years has been remarkable, due to both favorable international conditions and macro-economic modernization underlined by reforms to boost competitiveness and diversification," said the African Economic Outlook 2008, a collaborative project between the AfDB, the OECD Development Center and the UNECA, with financial support from the European Commission. The growth rate in Morocco is positive, as it could reach 5.8% between 2008 and 2011, said the AfDB, which hailed the "satisfactory results" achieved by the Moroccan economy in recent years.