Morocco’s Growth Strategy in an Evolving International Environment
Morocco’s GDP growth has increased over the past three decades, mainly as a direct consequence of the expansion of domestic demand, triggered by an increase in both government-initiated public investment and minimum wage.
However, this growth strategy has its limitations, leading to a push for an integrated approach to economic growth and employment that incorporates a quantitative macroeconomic model. The Moroccan economy’s resilience in light of the global financial crisis and its resulting international difficulties should be highlighted.
Nonetheless a more developed macroeconomic policy framework is needed to address several issues related to the process of financial globalization and more open trade. Morocco should aim to accelerate its transition to the top of the global technology frontier in order to better position itself in global value chains.
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Morocco’s Growth Strategy in an Evolving International Environment
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