Why Morocco’s economy is doing fine after all the shock: What we know
The economic outlook for Morocco is looking good, and the government is focusing on its biggest priority: the development of its young people.
Morocco’s GDP rose by 6.2% in 2017, which was the fastest growth in the world, according to the World Bank.
In 2018, the country is forecast to grow by 3.7% to 5.9%.
The economic gains are not enough to make up for the country’s economic woes.
“Moroccan growth is a lot better than we thought.
But we can’t get it back to its normal pace, because of the shock that came with the Brexit,” said economist Nasser Mughnour.
Mughnor said the shock to the economy has also put a lot of pressure on the education system.
“The education system in Morocco is one of the best in the region, and we expect it to improve a lot in the future,” he said.
But, the main challenge for Morocco’s economic growth is the unemployment rate, which has reached nearly 30%.
“It’s going to be tough to recover in the long term,” said Mughnor.
The unemployment rate of about 25% means the economy is not performing well, and its future is not guaranteed.
“We cannot afford to lose that momentum,” he added.