The report PESTLE Insights: Macroeconomic Outlook Report – Morocco gives a 360-degree outlook of the current economy of Morocco. The report identifies the country as an investment destination by analysing various political, economic, social, technological, legal and ecological factors. The report helps in understanding the market dynamics and business potentials by analysing various risk factors that are likely to affect the business.
Morocco is a unitary sovereign state located in Northern Africa and is one of the native- land for the indigenous Berbers. Morocco is a constitutional monarchy which is ruled by the King of Morocco, who exerts control over the legislative and executive. The official language spoken by the Moroccans is Arabic, while Berber is an official language. Apart from Arabic and Berber, French is widely spoken in Morocco. Morocco is the seventh largest economy in Africa and it gained independence in the year 1961. It is bordered with Spain in the North, West Sahara in the south and Algeria in the east. It has a vast coastline and touches the Atlantic Ocean and Mediterranean Sea. Morocco’s capital city is Rabat and the largest city here is one of the most important ports as well, Casablanca. The official currency of the country is the Moroccan Dirham.
Politically, Morocco was considered an authoritative regime, where Freedom of the Press report of 2014 proved it. It is a constitutional monarchy and after the reforms of 2011, the role of Prime Minister further gained importance. Economically, since 1993, the country has privatized various sectors and was the largest economy in Africa and lead the list of Quality- of- Life Index. In 2016, the economy faced a sharp slowdown; agricultural sector is quickly recovering whereas the non-agricultural sector is sluggish but slowly recovering. Socially, the country is currently facing issues around unemployment and poverty and the government is pro-actively undertaking various development programs to tackle these issues.
Technologically, the internet penetration is considerably good compared to the other African nations, and this is due to the major population living in rural areas and lesser penetration in rural Morocco. As per the African Capacity Report, Morocco leads in science, technology and innovation capacity among African countries and one of the pioneers in research. Legally, though the King has the ultimate power and the legal system is a mix of both Muslim and Civil Law. Ecologically, Morocco is rich in biodiversity. Since it is a part of the Mediterranean basin, it is a land of several endemic species and is a highly diverse country with vast deserts, forests and grasslands and peaks.
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Ankur Gupta, Head Marketing & Communications