Thing happening to Morocco's economy as the country's businesses grow?

Thing happening to Morocco's economy as the country's businesses grow? Morocco's growth is helped by a lot of things like more p...

Thing happening to Morocco's economy as the country's businesses grow?

Morocco's growth is helped by a lot of things like more people going to school in the towns and more people going to school in the cities and better roads.

Since 1983, Morocco's economy has been changing. Now, businesses are being told to give more power back to businessmen and spend less on capital.

But the country is on the list of places where people are making progress made by the United Nations Development Program.

There are many things that can help Morocco grow, such as improving the country's roads, ports, railways, and other facilities and making sure that more people in the villages can go to school.

Health care services in villages and cities and health insurance have made Moroccan workers more willing to do their jobs.

The country's export system and the growth of international trade also help open the country's market to the rest of the world.

Plans help the country both inside and outside of its borders. Some foreign companies, like those that make fabrics and leather and sell tomatoes, are important to the country. This is made possible by the growth of the companies.

This brings money from outside the country to North Africa. After it became independent, Morocco's economy worked on building dams and improving agriculture so that it could feed itself and sell food to other countries.

Since the 2000s, though, there have been more foreign investments, such as companies that make cars.

The goal of development through planning

Over time, the country's government kept taking steps, such as making new business laws, creating industrial zones, giving exporters subsidies, and helping export companies.

A report from the French ambassador says that exports went up by between 15% and 35%.

For a country to be able to compete with other countries and its own people on the world market, it needs to improve its production, train people for jobs, fight ignorance, and encourage study. and make things better.

Most of Morocco's businesses cover a big area, both in the country and in other places, like the south of Africa and the north of the European Union.

Small and medium-sized Moroccan businesses are ready to compete with foreign companies that sell their goods in Morocco and then export them, as well as to build companies that will be in the lead.

Sell more abroad.

The banking and financial sectors have come up with new plans to help people get the money they need to spend, get into the business, and make changes.

They have worked with foreign banks to build businesses, make it easier to pay bills, and grow the banking and k industry.

Before the private sector can make a big difference in Morocco's growth, the economy needs to be more diverse.

In the last few years, Morocco has made progress in many ways. Every year, for example, the number of new businesses has grown by 7% and the number of jobs has grown by 6.7%. and got a 13 percent raise in salary every year.

According to the IMF's 2022 annual report on Morocco, companies sold 13.5% more goods each year, and foreign investment in manufacturing went from 28% in 1990 to 35% in 2010 and 2020.

Every year, the amount of money the industry makes goes up. This is because of foreign investments and changes in the industry.

Al Maghrib Bank's annual report shows that companies in charge of managing products still put most of their attention on food products, which make up 50% of what is made, while other goods make up more than 22%.

Most of the things that companies make are well-run. According to the report, Morocco's exports will reach €22 billion in 2022, which is a rise of €6.272 billion.

The study also said that semi-processed products are Morocco's most valuable exports, bringing in 63.88 billion euros, which is 2.63 billion euros more than in the same time period in 2021.

Challenge

The second thing that Morocco sends is goods that have been made ready for use. The total value of these goods is 61 billion euros.

Only passenger cars, worth 2.52 billion euros, made up twice as much of the country's exports as food.

About one-third of the things that are exported are finished goods from the industry, which are worth 3.59 billion euros.

Some of these are electrical lines.

A World Bank report says that exports of food items like seafood, fish, tomatoes, and dried fruits were worth 3.47 billion euros in the first half of the year.

The economy of Morocco faces problems both inside and outside the country. Some of these problems are a reliance on labor and unfair treatment of Moroccan goods that will be sent to Europe.

Another problem is that moving goods in Eastern Europe and Asia is much cheaper than it is in the West.

Morocco is facing new competition in areas where it already has a lot of skills, like the textile industry.

Even though it is making a lot of progress, it needs to face these problems and try to find solutions to them if it wants to keep going in the right way.

Camille Sari is a professor at the Sorbonne University in Paris in the Department of Economics.

Togaciya: This piece shows what the author thinks and knows, but it does not show what TRT media thinks.