The IMF says Morocco’s economy “is on the right track,” following diversification and poverty reduction:
Thanks to its many assets, the Moroccan economy is on the right track, said Jean-Fançois Dauphin, Chief of French-speaking countries division at the International Monetary Fund (IMF), noting that prospects are promising on the mid-term.
The Moroccan economy has several assets. Over the past decade, a noteworthy diversification combined with an important growth rate and drop in poverty marked the country’s economy, Jean-Fançois Dauphin told “Al Huffington Post Maghreb” website.
“The 2010-2012 period was marked by the world’s economic downturn which resulted in high oil prices and growing budget deficits, However, I saw policies undertaken to adjust macro-economic balances which are bearing their fruits: deficits are being reduced and economic growth is forecast to takeoff this year,” he noted.
Despite these achievements, some challenges persist as the unemployment rate, especially among the youth, and income and regional differences and inequalities, he said.
He went on saying that other reforms are needed as the continuation of the amelioration of the business climate through more transparency, competition and administrative simplification to foster competitiveness…[Original Story, Subscription Required]