Morocco: the challenge of becoming an emerging economy
Moroccan economy stayed resilient during the last world economic crisis and was able to avoid Arab springs. In an increasingly unstable international environment, Morocco remains stable. Implementing an original development model, the country managed to accelerate its potential growth when the major emerging markets were slowing down.
Morocco is not only trying to develop its traditional sectors, but also to diversify its activity towards products and services with higher added value. The country intends to attract more foreign direct investment (FDI), becoming a crossroads between the European Union and the African continent, and enhance its economic relationship with Sub-Saharan countries.
These developments suggest that Morocco could in the near future, like Colombia or Peru, join the group of the “new emerging countries”.
However, this optimism should not hide some existing weaknesses, in particular substantial twin deficits and public debt since several years.