Economy

In 2013, Morocco rebounded from a more modest performance in 2012 to deliver 4.4% GDP growth, with the economy bolstered by a return to form in the primary sector thanks to a productive harvest. After 2.7% growth in 2012, economic activity in Morocco expanded much faster in 2013, increasing by 4.4% as GDP reached Dh864.6bn (€76.8bn). This was driven in large part by the agricultural sector, which typically represents 15-20% of GDP, and contributes significantly to both rural employment and exports. The kingdom did have to grapple with its fair share of exogenous challenges – such as low external demand and high commodity prices – as well as domestic complications including a fiscal deficit and unemployment, but following the government reshuffle in mid-2013 the prospects look far more positive. With the 2014 budget setting a more dynamic tone as the government takes steps to redress key fiscal imbalances, there are strong indicators pointing to the economy’s ability to continue to grow. This chapter contains interviews with Mohamed Boussaid, Minister of Finance; Jacques Attali, President, PlaNet Finance; Nicole Bricq, Former French Minister of Foreign Trade; and Zahra Maafiri, Director-General, Maroc Export.