The Report Morocco 2014

Download or read book The Report: Morocco 2014 written by Oxford Business Group and published by Oxford Business Group. This book was released on 2014-06-17 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: The only monarchy in North Africa, Morocco has one of the more diversified GDP mixes in the region, and the mainstays of the economy include agriculture, tourism, and the textiles industry; higher-end manufacturing, IT and communications, and outsourcing are also all becoming increasingly important. The past few years have seen some significant changes, yet the kingdom has remained stable, even amidst the broader regional turmoil. After 2.7% growth in 2012, economic activity in Morocco ramped up in 2013, increasing by 4.4% as GDP hit Dh864.6bn (€76.8bn), driven in large part by the agricultural sector. The kingdom faces exogenous challenges – such as low external demand and high commodity prices – as well as domestic complications including a fiscal deficit and unemployment, but following the government reshuffle in mid-2013, the prospects look far more positive. With the 2014 budget setting a more dynamic tone as the government takes steps to redress key fiscal imbalances, there are strong indicators pointing to the economy’s ability to continue to grow.