The World Bank urged Morocco to adopt a new growth model oriented towards boosting exports and strengthening the private sector. “Morocco’s growth model shows signs of weaknesses as it is confronted with a series of sustainability issues that risk, with varying degrees of intensity, impeding further progress,” the World Bank said in its April economic outlook for Morocco. It added that the economic model based on domestic demand, especially public investment, risks petering out without a significant increase in investment spillovers and productivity. A new growth model is also needed to promote job creation among the young and educated. On the long term, the WB projected growth to reach 3 percent in 2018 with cereal production returning to its historical average, while non-agricultural GDP growth is expected to remain around 3 percent in the absence of more decisive structural reforms.
Source: The North Africa Journal April 20, 2018 09:00 UTC