Morocco’s Economy Expected To Grow

Morocco’s Economy Expected To Grow

From Financial Times

Morocco may be entering a growth phase, after a seven years during which its economy struggled but avoided the turmoil that has affected some of its Arab neighbours.

Having previously notched up double-digit growth rates, the North African country was hit by, in close succession, the global financial crisis, the 2011 Arab uprisings and prolonged weakness among its European trading partners.

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However, Abdellatif Jouahri, Morocco’s central bank governor, said the country was now on the “right path”, as he pointed to a rise in foreign reserves, modest economic growth and increased activity in important non-agricultural sectors such as textiles, automotive and aeronautics.

“We have been able to go through this period with the least possible damage,” Mr Jouahri said in a rare interview from the bank’s headquarters in the capital, Rabat. “Morocco is not associated with one single product, like oil or steel. We have a bit of everything . . . that helped us get through the difficulties.”


Read more at Financial Times