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Paying Less in Slump Lifts Morocco Above Oil-Pumping Neighbors | Bloomberg
Bloomberg Business says that analysts rank Morocco “above its North Africa peers for its stability and growth potential,” and that its “economic transformation still appears on track”:
Tumbling oil prices have helped Morocco shore up public finances and lure investments, in contrast to countries from Saudi Arabia to Jordan struggling with rising budget deficits and slower economic growth.
Dismantling a costly energy subsidy program — politically more difficult when prices were high — was achieved with little fallout for the government, the only Islamist-led administration to remain in power in North Africa since the Arab Spring unraveled. The PJD party that heads the government carried the popular vote in this month’s local elections, viewed as a test for its prospects in next year’s parliamentary ballot.
That stability relative to other regional net energy importers has been vital in attracting investment in real estate and tourism, especially from the monarchies of the Gulf Cooperation Council…[FULL STORY]