ارجوكم طلب في الإنجليزية عاجل
Moroccan economy in the context of the financial and economic crisis
Morocco has managed to resist against the direct effects of the crisis.
Nonetheless, given its openness on the global economy, Morocco felt the impact of the economic crisis on the productive sectors linked to foreign demand.
The Government has implemented a number of measures under the 2009 finance act.
constitutional monarchy with a parliamentary government
■ bicameralism: upper house and lower house
■ the constitution prohibits the single party → multipartism and multi labor unions
■ Morocco is an arab and muslim country, mediteranean, atlantic and african country
■ long diplomatic tradition (Great Britain, USA, Russia, Netherlands etc). Morocco was granted “Advanced status” from EU
■ 5,6 % economic growth in 2008
■ 61st largest economy in the world
■ two national economic strategies:
Plan Maroc Vert and Plan Emergence
■ official unemployment – 8% in 2008
■ budget surplus – 0,4 % of GDP in 2008 (up from 0,2% in 2007)
■ FDI declined for the first time since 2004, retreating 29% in 2008 to €2.4bn
■ balance of payments’ current account posted a deficit (due to the spiralling trade deficit and a decline in remittances and tourism revenue)
limited connection to global financial markets → bank resistance against crisis
- 11,1% deposits growth (record €51.5bn)
- number of account holders increased from 25% in 2007 to 29% in 2008
- banking security issue: in May 2009, the Ministry of Interior ordered 270 banks to increase their security measures
- contrary to others countries Moroccan banks issued more loans: 2.6% growth in the first five months of 2009
- overall banking earnings increased
Priority for the government-backed social housing projects
Most sector indicators dropped
Completion times were extended in the case of many large projects: large resorts of Plan Azur, Infrastructure projects
The high-end property fell 10-15% in price in 2008
Demand for low- and medium-income housing continues to be strong, with an estimated deficit of 610,000 units.
The New Cities programme (creation of 15 new cities)
The 2005 Plan Emergence resulted in the creation of Casanearshore and Rabat Technopolis offshoring centres.
A new four-year Impact Plan aims to support small and medium-sized business computerisation, e-government and broadband access and promote entrepreneurship in new and niche ICT areas.
A low internet penetration rate (21%) presents a challenge for the development of e-commerce .
Despite a deterioration of economic situation of its trading partners Morocco’s economic performance has remained solid.
GDP grew by 5,6% in 2008 despite the declines in the manufacturing, tourism and export sectors.
In light of recent stabilizing trends in these sectors and relatively sustained domestic demand, real non agricultural GDP is expected to grow by about 2 ½ percent in 2009.
Combined with the record cereal production, overall GDP growth is projected about 5,4 percent.
The global economy remains vulnerable to shocks such as an increase in the oil price, the H1N1 flu, protectionism and geopolitical tensions