At the IMF (International Monetary Fund), The Director of Middle East and Central Asia Department Masood Ahmed said that Morocco is a country that has made a significant progress over the past ten years in terms of its macro-economic stability and alleviation of poverty.
What is Morocco’s Economic Growth Expected to be in 2010?
Regardless of the recent crisis in Europe, in 2010, the Kingdom of Morocco’s economic growth us expected to be quite satisfactory, while the country’s standard rate of inflation is estimated to stay below 2 percent, the Director of Middle East and Central Asia Department told MAP on the eve of taking part in the WEF (World Economic Forum) on MENA (Middle East and North Africa) which took place in Marrakech, Morocco.
What Else Did the Director of Middle East and Central Asia Department Say?
He emphasized the efforts that the Moroccan government has made in order to reinforce the country’s infrastructure and improve the business environment which will in turn promote Morocco’s competitiveness, maintain a growth strategy based on the country’s exports and also solving the unemployment issues. He also said that the efforts put forth by the Moroccan government in order to improve educational and health services are also essential to ensure a sustained growth.
What about the Country’s Money and Tax Issues?
On Morocco’s money and taxes issues, the official of the International Monetary Fund (IMF) considered that Morocco responded “appropriately” in the face of a global financial slump, emphasizing that the government’s budgetary measures, which include increasing grants for key sectors has helped to support local demand. He also added that cutting down the central bank’s major interest rate and the cutting back of mandatory reserve requirements, in addition to the attentive monitoring of the country’s financial sector resulted in sustaining trust.
How Did MENA Importing Oil Nations Overcome the Global Financial Crisis?
Masood Ahmed noted that Middle East and North Africa importing oil nations – Egypt, Morocco, Jordan, Mauritania, Syria, Jordan and Tunisia – triumphed over the crisis through implementing budgetary measure while giving room for manoeuvre.
“Can You Tell Me More About the Moroccan Market?” – Oh Hell Yeah!
The Kingdom of Morocco is truly a unique country with an outstanding attraction, thanks to its 3 key advantages which are:
- An economic environment that is wide open to investors
- A competitive and qualified work force
- Strategic geographical location.
Morocco is a country that remains powerful in terms of its reception of the Foreign Direct Investment (FDI), established by its categorization in the “2nd place” of the Maghreb host nations and in the “4th place” out of all the other African nations. A number of fields are under the control of the present development of the country, such as:
- The textile industry
- Construction etc.
The Moroccan Tax Advantages
In order to promote foreign investment in Morocco, the Moroccan government grants various tax advantages to foreign investors – in other words, investing in Morocco is a tax pain-in-the-neck-FREE process.
Filed Under: Economic News of Morocco