Morocco has been resilient to world economic crisis
Paris - Morocco has shown good resilience to the world economic crisis and has succeeded in preserving its major balances, with an external debt below 25 pc of the GDP, international opening, improving its competitiveness and undertaking large public investment projects, said French consultant Anne-Marie Idrac.
Source : https://www.emouaten.com/english/Morocco-has-been-...
Idrac, former secretary of state for transport and of foreign trade, wrote in a report published in Paris that Morocco's growth rate is expected to reach 5pc in 2014 (reaching the symbolic figure of 100 billion dollars), and 4pc in 2015, recalling that the International Monetary Fund has renewed its USD 6 billion precautionary liquidity line.
Meanwhile, international fund-donors are maintaining their overall confidence, the analyst went on, stressing that reform of the subsidy system which weighs heavily on public expenses, -accounting for 20pc of public expenses and 5pc of the GDP- remains a major economic and foremost social challenge.
The consultant also notes that the Kingdom has expanded its market to more than one billion consumers by signing some fifty free trade agreements, particularly with the European Union with which it enjoys an "advanced status" allowing it to integrate into the European internal market by adapting its legislation.
The consultant also cites the Agadir agreement signed in 2007 with Tunisia, Egypt and Jordan, the industrial FTA with Turkey and the FTA with the USA which encompasses industrial products, agriculture and services, with the target of dismantling all duties by 2015.
Morocco has also started negotiations with Canada, the African Economic and monetary community and the West African economic and monetary union, she observes arguing that external trade is crucial for Morocco's economy.
Meanwhile, international fund-donors are maintaining their overall confidence, the analyst went on, stressing that reform of the subsidy system which weighs heavily on public expenses, -accounting for 20pc of public expenses and 5pc of the GDP- remains a major economic and foremost social challenge.
The consultant also notes that the Kingdom has expanded its market to more than one billion consumers by signing some fifty free trade agreements, particularly with the European Union with which it enjoys an "advanced status" allowing it to integrate into the European internal market by adapting its legislation.
The consultant also cites the Agadir agreement signed in 2007 with Tunisia, Egypt and Jordan, the industrial FTA with Turkey and the FTA with the USA which encompasses industrial products, agriculture and services, with the target of dismantling all duties by 2015.
Morocco has also started negotiations with Canada, the African Economic and monetary community and the West African economic and monetary union, she observes arguing that external trade is crucial for Morocco's economy.
Source : https://www.emouaten.com/english/Morocco-has-been-...