Economy

Despite its dependence on agriculture for strong GDP figures, efforts to strengthen other export sectors, coupled with the diversification of its trading partners, have allowed Morocco to develop competitive industries and increase their presence in international markets. Traditional segments such as phosphate production remain strategic, but...

Given its traditional dependence on energy imports, and agricultural volatility’s significant impact on economic performance, Morocco has witnessed long periods of fiscal imbalances. This is set to change, however, as structural improvements to the economy, coupled with a reduction in international oil prices, have helped the authorities...

Recent decades have seen a downward trend in corporate taxation. Headline corporate tax rates have fallen by 20 percentage points since the early 1980s, with the advanced economy average dipping to 22% in 2015. Investment incentives have further reduced effective rates for transnational corporations. After the 2007-08 global financial crisis,...

Galvanising the competitiveness of Moroccan firms is an important component of modernising the economy and boosting job creation. While there have been improvements, the adoption of innovation programmes and the establishment of a viable support system for entrepreneurs and start-ups have lagged, in part due to the regulatory environment.

With an emphasis on diversifying its commercial partners, Morocco’s African strategy has sought to raise the kingdom’s political and economic profile, and extending its clout across the continent. Over the past decade, Moroccan investments in several African countries have been channelled towards financial services, industrial production and...