Despite a global economic context marked by turbulence, Morocco manages to maintain sustained growth and consolidate its position in strategic sectors, notably in commercial matters.
During the parliamentary session devoted to foreign trade, Moroccan head of government Aziz Akhannouch highlighted the country’s success in strengthening ties with established allies while actively seeking new markets.
Speaking on Monday before the House of Representatives, Mr. Akhannouch highlighted the public policies adopted in line with the royal guidelines, which have strengthened Morocco’s role as a trusted partner and popular destination for investors at the regional and international. During this parliamentary session dedicated to foreign trade issues, the Head of Government underlined the importance of solid relations with historical partners, while affirming the desire to conquer new markets.
Thanks to this proactive approach, Morocco has established itself as a regional trade hub and a platform of choice for balanced economic partnerships, thus contributing to its integration into the global economy. The Prime Minister presented a set of initiatives implemented by the government to attract foreign investment and stimulate the competitiveness of the industrial and exporting sectors.
By continuing its internal reforms and intensifying trade liberalization, Morocco has consolidated its status as a regional leader and a popular destination for international businesses. Mr. Akhannouch also stressed that economic opening remains a cornerstone of the national growth strategy, supported by mechanisms aimed at establishing an attractive business climate and promoting investment.
Despite external pressures, Morocco has demonstrated resilience, recording a growth rate of 3.4% in 2023 and average growth of 4.4% over the last three years. Furthermore, the Prime Minister welcomed the reduction in inflation, which stood at 1.1% over the first nine months of 2024, compared to 6.1% at the end of 2023, which represents a performance notable compared to the economies of the region.
Aware of the challenges imposed by geopolitical tensions affecting global supply chains, Mr. Akhannouch recalled Morocco’s sustained efforts to strengthen its sovereignty in strategic sectors, with a view to better resisting external fluctuations and encouraging economic autonomy.
However, despite this favorable picture, recent data published by the High Commission for Planning (HCP) indicate a slight increase in unemployment. The HCP reports an increase of 58,000 unemployed, bringing the national unemployment rate to 13.6%, an indicator that reveals persistent challenges in the area of employment.
RT/SF/ac/APA
