A withering drought and poor harvests plus price hikes fuelled by the crisis in Ukraine are threatening Morocco’s fragile economic recovery and exposing structural weaknesses, experts say. Morocco has pumped resources into diversifying its manufacturing sector, particularly by attracting auto giants such as Renault. Morocco depends heavily on agriculture, a sector that accounts for 14 percent of gross domestic product and around a third of all jobs. Over-reliance on agriculture, particularly for jobs, makes Morocco’s economy more vulnerable, he said. The crisis in Ukraine has sent grain and energy prices spiralling globally, pushing fuel prices in Morocco to record levels.

Source: The North Africa Journal June 01, 2022 11:18 UTC