Morocco's economy is expected to grow by 6.5% in 2008, according to the Moroccan finance minister. Advertising expenditure represented just over 0.6% of GDP in 2007, compared with 1% in Egypt and 1.5% to 2% in EU countries. [3] In fact, the national income grew at an average annual rate of 5.5% during the 1998–2007 decade. The number of Moroccan internet subscribers in 2007 amounted to 526,080, representing an increase of 31.6% compared to the previous year and a 100% increase compared to 2005. Overall illiteracy rates and gender disparity in access to secondary education remain high and the country continues to suffer poor outcomes on infant and maternal mortality. [citation needed]. Cereals constitute the essential of the agricultural value added and their production is very sensitive to rain falls. However, keeping with the global trend, FDI dropped 29% to €2.4 billion in 2008,[63] the first decline since 2004. It is the most unequal country in North Africa according to the NGO Oxfam. Morocco is also a source of foreign investments. The main network for passenger-transport consists of a North–South link from Tangier via Rabat and Casablanca to Marrakech and the East–West connection linking Oujda in the East via Fes to Rabat. The share of Morocco fell to 3%. Morocco has made great progress toward fiscal consolidation in recent years, under the combined effect of a strong revenue performance and efforts to tackle expenditure rigidities, notably the wage bill. [36][37], By the end of December 2008, rainfalls exceeded that of an ordinary year by 106%. The influx of European countries in Morocco's FDI represents 73.5% of the global amount received in 2007. Investment during the 1970s included industry and tourism development. Growth will be well below the 8–10% levels that are widely regarded as necessary to have a major impact on poverty and unemployment. Its wine industry is developed, and the production of commercial crops (cotton, sugarcane, sugar beets, and sunflowers) is expanding. The plan also includes other large-scale development projects such as upgrading regional airports to attract budget airlines, and building new train and road links. Timetable for this section:[9] ; As of August 2020 60–70% of the Libyan population lives in areas controlled by the GNA. Southbound: Tangier (21:05), Sidi-Kacem (1:30), Kentira (2:35), Rabat (3:15), Casablanca (4:30), Marrakech (08:05). Morocco consistently ranks among the world's largest producers and exporters of cannabis, and its cultivation and sale provide the economic base for much of northern Morocco. The most recent figures available on the number of research staff in Morocco are those provided by the Ministry of National Education, Higher Education, Professional Training and Scientific Research in its 2002–2003 annual report. As a result, perceptions of Morocco's creditworthiness have improved. Increasing public investment in ports, housing development projects, and roads as well as the boom in the tourism sector have been a big shot in the arm for the construction sector. This increased the need for a commercial district, Tangier City Center, which was inaugurated in 2016. The plan's principal priority was to create some 900,000 new jobs and to train managers and workers in modern agricultural and industrial techniques. With money sent home by Moroccan migrants reaching $5.7 billion in 2007, Morocco came in second, behind Egypt, on the recent World Bank list of the top 10 MENA remittance recipient countries. Services generated some 152,000 new jobs, with the business process outsourcing (BPO) and telecoms sector proving particularly dynamic. In 1995, Morocco's worst drought in 30 years forced Morocco to import grain and adversely affected the economy. Although Morocco runs a structural trade deficit, this is typically offset by substantial services earnings from tourism and large remittance inflows from the diaspora, and the country normally runs a small current-account surplus.[39]. This strategy provides for creating 160,000 beds, thus bringing the national capacity to 230,000 beds. [48], The fishing industry in Morocco is a leading foreign exchange earner, accounting for 56% of agricultural and 16% of total exports. the agreement of free exchange with Turkey. Coaxial cables and microwave radio relays exist to Algeria. Morocco produces a number of minerals and metals, most importantly, phosphates, silver and lead. Since then the emphasis has shifted to privatizing state operations and attracting new private investment, including foreign sources. The most important long-distance train services are: The ONCF operates special night-trains on the long-distance main-line links. The government in 2003 was using revenue from privatizations to finance increased spending. The government wishes to increase 3 exports from $1.27 billion in 2001 to $3.29 billion in 2010. For other quizzes, I automated the process. But the biggest investment was the creation of the new port Tanger-Med. Morocco's primary economic challenge was to accelerate growth in order to reduce high levels of unemployment. [51], The telecoms sector increased in value from Dh25.6 billion ($3.3 billion) in 2006 to Dh33.3 billion ($4.2 billion) in 2007. The sectors that recorded the highest growth are the tourism, telecoms, and textile sectors. an extension of the line to Marrakesh is already being planned. This represented 10% of the total area and 23% of the arable lands of the surveyed territory and 1% of Morocco's total arable land. This 323-kilometer-long (201 mi) high-speed rail service is operated by the ONCF. [51], While Morocco is already a model of water management in the MENA region, upgrades to its water system under the National Wastewater Management Programme should further improve wastewater treatment and maximise efficient water usage. [51], Television retained the lion's share of advertising expenditure, with 55% of above-the-line advertising. Morocco sends a significant amount of its exports to the European Union. This trend could continue in Q1 of 2009 with a growth rate not exceeding 2% due to a lackluster economic growth outlook and the slowdown of international trade. However, the results obtained show considerable disparities in terms of the distribution of the fruit of this growth, whether between the production factors, the socio-economic groups or the urban and rural areas. Changing consumption habits, increasing purchasing power and the growing number of tourists should boost the development of malls and luxury shopping. Morocco has very few reserves of its own and has been affected by the high oil prices of 2007 and early 2008. Morocco has become an attractive destination for European investors thanks to its relocation sites "Casashore" and "Rabatshore", and to the very rapid cost escalation in Eastern Europe. The shift to an environment-conscious approach in Morocco has brought about scores of investment opportunities, most being in the utility and renewable energy industries. [26], This is a chart of trend of gross domestic product of Morocco at market prices estimated by the International Monetary Fund with figures in millions of Moroccan dirhams.[27]. In 2001, Morocco granted exploration contracts to Total and Kerr-McGee, angering Premier Oil and Sterling Energy, which previously had obtained licenses from the Polisario government. The real estate sector has also been seeing record investments. The day trains all stop at Taourirt and as the link to Nador is actually before the station of Taourirt (coming from Fes) the direction of travel has to change, including moving the locomotive from one end to the other. This crowding–out of private sector investment reduces the profitability and growth incentives of the financial sector. IEA (2014) "Morocco 2014 – Energy Policies Beyond IEA Countries", Learn how and when to remove this template message, Africa :: Morocco — The World Factbook - Central Intelligence Agency, Arab Fund for Economic and Social Development, United Nations Conference on Trade and Development, "World Economic Outlook Database, April 2019", "World Economic Outlook Database, October 2019", "Middle East and North Africa Economic Update, April 2020 : How Transparency Can Help the Middle East and North Africa", "Poverty headcount ratio at national poverty lines (% of population) – Morocco", "Poverty headcount ratio at $3.20 a day (2011 PPP) (% of population) – Morocco", "Inequality-adjusted Human Development Index (IHDI)", "Employment to population ratio, 15+, total (%) (national estimate) – Morocco", "Morocco (MAR) Exports, Imports, and Trade Partners", "How Fitch, Moody's and S&P rate each country's credit rating", "International Reserves and Foreign Currency Liquidity – MOROCCO", "Morocco major economic player in Africa, researcher", "Economy – Morocco – import, problem, growth, crops, annual, sector", "Le Maroc, pays le plus inégalitaire d'Afrique du Nord", "Economics, Business, and the Environment – GDP: GDP per capita, current US dollars", "Report for Selected Countries and Subjects", "Economic development – Morocco – product, growth, area, annual, economic growth, infrastructure, policy, sector", "Morocco Economy 2015, CIA World Factbook", "Moroccan economy expected to grow by 6.2% in 2008", http://www.map.ma/eng/sections/economy/morocco_banks_on_bud/view, "Morocco foresees 6.6% economic growth in 2009 first quarter – Magharebia", "Arab Fund for Economic and Social Development lends Morocco $237m", http://www.unis.unvienna.org/unis/pressrels/2003/unisnar826.html, "Cannabis : l'Istiqlal revient à la charge", "France: l'humoriste Dieudonné, le succès qui inquiète? Investment was low and the city lost its economic importance. [60][61][62] According to experts, multinational companies are attracted by Morocco's geographical and cultural proximity to Europe,[56][61] in addition to its time zone. Of its E.U. to 10.8% in 2005. Fitch Ratings affirmed Morocco's long-term local and foreign issuer default ratings of "BBB-" and "BBB", respectively, with a stable outlook. For a long time the industry has been an economic pillar for the country. The private sector is the least active player in research activity in Morocco. Current GDP per capita grew 47% in the 1960s, reaching a peak growth of 274% in the 1970s. Moroccan economic policies brought macroeconomic stability to the country in the early 1990s but did not spur growth sufficient to reduce unemployment despite Moroccan Government's ongoing efforts to diversify the economy. In 1987–97, science and engineering students accounted for 41% of college and university enrollments. The service is offered by the subsidiary Menara. The diversification of the Economy includes a multi-disciplinary approach to the development of non-agricultural sector, including the creation of special sectorial zones in industry, tourism and services outsourcing. Tough government reforms and steady yearly growth in the region of 4–5% from 2000 to 2007, including 4.9% year-on-year growth in 2003–2007 the Moroccan economy is much more robust than just a few years ago. Industrial activity recorded a 5.5% increase in 2007, a slight rise over 2006, when the sector grew by 4.7%. At the launch of service in 2018, the travel time between Casablanca and Tangier was reduced from 4 hours and 45 minutes to 2 hours and 10 minutes. Create a stunning interactive maps with simple-to-use user interface. The government continued liberalizing the telecommunications sector in 2002, as well as the rules for oil and gas exploration. In fact, Morocco is being touted as the most popular retirement destination among Europeans because it is inexpensive compared to other European tourist destinations. Industries singled out for development included chemicals (especially phosphoric acid), phosphate production, paper products, and metal fabrication. In a 2006 poll, GAM found that 94% of its members used outdoor advertising, although 81% companied about problems, mainly caused by quality issues and delays. The area east of the Moroccan defensive wall is mainly uninhabited also its an extremely desertic area which makes it difficult to live in, also the area faces threats from POLISARIO mercenaries front supported by Algeria and located in Tindouf (city inside the Algerian territories ). But when Mohammed VI became king in 1999, he developed a plan for the economic revival of Tangier. In 1st class, each passenger has a reserved assigned seat. At end-2007 public capital still held controlling stakes in five banks and four financing companies. No couchettes are available. Tourist receipts in 2007 totalled US$7,55 billion. Foreign Direct Investments in Morocco grew to $2.57 billion in 2007 from $2.4 billion a year earlier to position the country in the fourth rank in Africa among FDI recipients, according to the United Nations Conference on Trade and Development. Macroeconomic stability coupled with relatively slow economic growth characterized the Moroccan economy over the period 2000–2005. The cannabis is typically processed into hashish. Favourable rainfalls have led Morocco to a growth of 6% for 2000. Total premiums reached Dh17.7 billion ($2.3 billion) in 2007, ranking Morocco as one of the largest insurance markets in the Arab world behind Saudi Arabia and the UAE. Northbound: Nador (19:43), Fez (1:00), Casablanca (06:15). Southbound: Casablanca (19:45), Fez (0:15), Nador (06:00). [76] Nine universities and colleges offer degrees in basic and applied sciences. [42], In addition to smaller yields of other agricultural products.[43]. Morocco has developed an ambitious strategy, dubbed "Vision 2010", aimed at attracting 10 million tourists by 2010. Morocco has a lower rate than its Maghreb neighbours—Tunisia has a rate of around 13.9%, and in Algeria it is around 12.3%—but the issue is still a pressing one, both for economic and for social reasons. An improved rural service employs microwave radio relay. [29], Through a foreign exchange rater anchor and well-managed monetary policy, Morocco held inflation rates to industrial country levels over the past decade. Also feel free to use Search field in the header. The industrial sector accounted for about 21.1% of employment in 2007 and the sector is a key component of the government's effort to curb unemployment. However, there are still numerous missing elements: sunroofs, leather seats, instrument panels, foundry, screws, tires, radios and screens. The government hopes that adding more local content to the internet will increase usage. [32] The high cost of imports, especially of petroleum imports, is a major problem. The plan called for a growth rate of 6.2%, but by 1964 the growth rate had only reached only 3%. Morocco also has the largest port in Africa and the Mediterranean called Tanger-Med, which is ranked the 18th in the world with a handling capacity of over 9 million containers. To meet the growing domestic demand, the Moroccan government invested more than $15 billion from 2010 to 2015 in upgrading its basic infrastructure.[79]. Moroccan officials have heralded a significant increase in the amount of money Moroccan expatriates are sending home. This leaves Morocco with some 1.03m unemployed, compared to 1.06m at the end of March. [69], In recent years,[when?] Morocco's unemployment rate, long a cause for concern, has been dropping steadily in 2008, on the back of job growth in services and construction. The largest project is the high a high-speed railway from Tangier via Rabat and Casablanca to Marrakech. Key agricultural products include fruits and vegetables (grown in the few oases); camels, sheep, goats (kept by nomads.) The state has started to remove itself from the domestic sector by surrendering part of its share capital in public banks. The national system of scientific and technical research is guided by different elements, such as the pronouncements of the king, reports of special commissions, five-year plans, and the creation of a special programme for the support of research. Northbound: 21:00 Oujia-Casablanca It was initially developed during the protectorate. [75] The majority (58%) were employed in the university sector. exports in 2018, 42% went to Spain and 29% went to France. This nearly quadrupled the number of internal telephone lines and greatly improved international communications. In 1st class, however, each seat is manually assigned. Government efforts are underway to encourage Moroccans living abroad to increase their investments at home, and to allay concerns about bureaucracy and corruption. In 2007, reflecting a strong improvement in revenue performance and moderate growth in expenditure, the budget was close to balance. Below is an SVG map of the world. These measures combined with actions carried out by the Hassan II Fund for Development increased foreign investments in Morocco by $544.7 million in 2007. In the night-trains, passengers in a 2nd class compartment tend to draw the curtains, switch off the lights and close the sliding door, hoping that no passengers will enter their compartment so the existing cabin passengers might have more space. The Caisse de Dépôt et de Gestion forecasts that if imports continue to rise faster than exports, the disparity could reach 21% of GDP. There are now direct flights from France, where previously it was necessary to change plane in Casablanca.[54]. [75] Sectors declared as priority areas were: agriculture, health fisheries, drinking water, geology, mining, energy, environment, information and telecommunications technologies, and transport.[75]. A library of free SVG maps (MIT-licensed) that are web optimized. Inflation in 2000 and 2001 were below 2%. [citation needed], The government has recognized this challenge and has put in place an ambitious process of legal, policy, and institutional modernization that has far-reaching political, economic, and social dimensions. Yet over 90% of subscribers have a broadband ADSL connection, which is one of the highest ratios in the world. Other important industrial sectors include mining, chemicals, construction materials and pharmaceuticals.

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