Morocco

Authorities in Morocco have long succeeded in keeping prices under control through monetary policy tools such as inflation targeting and an exchange rate peg that has avoided spikes in the cost of imports. Thanks to persistently low inflation, recent years have seen several interest rate cuts, the latest of which took place in March 2016, as...

Having risen rapidly in the years to 2012 on the back of high expenditures, Morocco’s budget deficit has fallen in recent years as subsidy reforms and other efforts to reduce spending and raise revenues kick in. Authorities are also on the verge of overhauling the public pension system, after the government was forced to substantially raise...

Morocco’s relations with its Middle Eastern and North African neighbours have been coloured by territorial and security disputes, but are gradually improving as mutual interests strengthen. Meanwhile, its partnership with the wealthy Gulf states goes from strength to strength, with several Gulf countries major investors in Morocco and the...