Morocco's Economy From 1984 Through 2003

The organization of Morocco is climb uping policies and procedures to profit private-sphere participation in the trainment of the country's phosphate resource. One come out is an emphasis on joint-venture financing with European and Asian companies. The government of Morocco in like manner is increasing private-sector participation in other digging activities (silver and lead) by selling shares in state-owned enterprises (Organization for Economic Cooperation and Development, 2004).

The government of Morocco also has initiated an infrastructure development program to boost the tourism perseverance in the country. The primary focus has been on the development of fivesome study resort areas, within which private-sector companies will be invited to develop tourist properties. The initiative by the government of Morocco is intended to add-on tourism four-fold from 2001 to 2010, and to increase the contribution of tourism to GDP from eight-percent to 20 percent GDP growing from 8 percent to 20 percent. Private-sector cordial reception companies are being offered incentives by the government of Morocco to develop properties in Morocco. Simultaneously, the government is in the process of selling state-owned hospitality properties to private-sector companies (Organization for Economic Cooperation and Development, 2004).

In 2001, Morocco had an installed generating capacity of 4.1 megawatts. Most of this capacity

In 2003, Morocco's real GDP increased 5.2 percent. This deed was attributable primarily to the performance of the country's agricultural sector, which benefited from sufficient rainfall. carrying out of the agricultural sector, which accounts for 43 percent of Morocco's workforce, has an enormous influence on both unemployment and GDP in Morocco (Nsouli, & Fisher, 2004).

Nsouli, S. M., & Fisher, M. (2004, April 13). Morocco: Staff report for the 2004 condition IV Consultation. Washington, D.C.

: International Monetary Fund. Accessed on the Internet on 2004-10-31 at: http://www.imf.org/external/ pubs/ft/scr/2004/cr04162.pdf

Morocco has expanded its cloth constancy on the basis of highly competitive stab costs and increasingly free access to European matrimony markets (primarily by free trade zone manufacturing operations). The textile industry employs approximately 37 percent of the non-agricultural labor force. Further, the industry has been the major contributor to growth in Moroccan exports (Datamonitor, 2004).

Financial sector reforms deliver led to significant liberalization and modernization through regulatory change. Direct credit controls were abolished, interest rates liberalized, compulsory bank credit allocations were eliminated (for the most part), and some public banks have been privatized (Nsouli, & Fisher, 2004). The ternary largest banks in Morocco, however, account for almost two-thirds of the country's banking assets and deposits. The same three banks account for more than one-half of bank lending in Morocco.

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