Growth: The Morocco pack | L’Economiste

Morocco’s experience, progress made and the challenges ahead… All this is recorded in a new book prepared by the IMF on “Morocco’s Quest for Stronger and more Inclusive Growth”. The country’s story could even be cited as an example for many developing economies in their quest to lay the foundations for macro-economic stability.

A difficult stability in an international environment with complex challenges: worsening global warming, pandemics, geopolitical conflicts, and inflation. This highlights the important role of international cooperation, and the need for multilateral development banks to adapt.

“This adaptation must focus in particular on providing greater flexibility in the aid granted to countries facing different types of crisis, in terms of advice and financial support, emergency facilities and support for restoring macroeconomic equilibrium”, maintains Aziz Akhannouch, Head of Government.

At a packed conference dedicated to the launch of the IMF’s book on Morocco, Aziz Akhannouch emphasized that the book “illustrates the Kingdom’s determination to achieve ambitious goals in terms of economic and social development”. Over the past twenty years, the country has undertaken ambitious and proactive reforms. “They have laid the foundations for a profound and lasting transformation of our economy, and have enabled the Kingdom to consolidate its resilience and preserve its macroeconomic balances”, says the Head of Government, adding that «Morocco stands at a decisive crossroads in its history. This pivotal moment evokes a period of introspection, which we are determined to take full advantage of. We are committed to implementing the strategic vision initiated by the Sovereign, which specifies the ambitions, development objectives and levers for change that will unleash energies and accelerate our country’s march towards progress and prosperity”.

Since 2021, a series of reforms has been launched to strengthen institutional cohesion and social protection systems, with a particular focus on human capital through the strengthening of the healthcare system, improving the quality of the education system, and promoting scientific research and innovation. “A society where citizens are able to take their future into their own hands, especially young people and women, holds the key to economic growth and inclusion”, maintains Akhannouch.

The growth to which Morocco aspires must be not only inclusive, but also sustainable and respectful of the environment. In this sense, Morocco has a head start in the development of renewable energies.

Khadija MASMOUDI