The report acknowledges the significant progress Morocco has made in the past two decades, attributing it to a series of reforms initiated by King Mohammed VI. These reforms have bolstered both political and economic stability.
Morocco’s unique governance system, marked by a commitment to reform, is highlighted as a key factor in the country’s rise as a regional power. The 2011 constitutional changes, a response to the Arab Spring, are a prime example. This new constitution decentralized power, strengthened democratic institutions, and shifted the balance within the government.
Economic growth also received attention, with the report acknowledging the significant rise in GDP (27%) between 2010 and 2018. Foreign direct investment and a growing middle class were credited as driving forces. However, remaining challenges like low growth, youth unemployment, and a cumbersome subsidy system are also identified.
Morocco’s “New Development Model,” launched in 2021, is seen as a direct response to these challenges. It aims to boost economic productivity, invest in education and human capital, create inclusive growth, and empower local regions.
The report further highlights several assets that have propelled Morocco’s economic competitiveness and global influence.
Targeted policies have attracted significant investment, particularly in the automotive and aerospace sectors. Improved business regulations have created a more attractive environment for investment. Morocco enjoys relative political stability and limited jihadist activity, enhancing its appeal. Morocco has actively pursued diplomacy tailored to strengthen its international standing.
Morocco’s renewed engagement with sub-Saharan Africa, its deepening ties with Europe and the United States, and its role as a host for major events like COP22 and the upcoming 2030 World Cup further underline its growing global presence.
However, the report cautions that vulnerabilities remain. These include susceptibility to drought, labor market inefficiencies, high youth unemployment, and migratory pressures. Additionally, brain drain could pose a threat as Morocco transitions towards a more sophisticated economy.
In conclusion, GIS presents two potential scenarios for Morocco’s future. The report favors a more optimistic outlook, with the country potentially emerging as a leading economic player. However, challenges like those mentioned could lead to a scenario of “moderate growth trap,” hindering further progress.
MN/te/lb/abj/APA