The President of the World Bank praises Morocco’s human development initiatives and results:
President of the World Bank (WB), American Jim Yong Kim, lauded the human development model implemented in Morocco, the only Maghreb country to be cited by Kim during the annual meetings of the WB and of the International Monetary Fund (IMF), held in Lima on Oct. 9-11.
“Allow me to give the example of some models of solid reforms seeking to promote growth,” said Kim in a speech, noting that “in Africa, Morocco reduced tariff rates and simplified procedures linked to foreign trade”.
Over the past years, Morocco concluded a series of free trade agreements with the EU, the USA, Egypt, Jordan, Tunisia and Turkey, adding that thanks to that, the percentage of foreign trade compared to the GDP increased from 53% in 1990 to 81% in 2013.
By improving business climate, Morocco succeeded to speed up the income yearly growth per inhabitant by an average of 3.2% over the past 15 years, he said.
This dynamic also helped ameliorate the well-being of the underprivileged and increase the rate of literacy among adults to 70%, he noted…[ORIGINAL STORY, SUBSCRIPTION REQUIRED]