On Thursday, May 14th, 2009, The Minister of Economy and Finance, Mr. Salaheddine Mezouar addressed a group of British businessmen and outlined Morocco`s development and Reform plans.
The Minister explained that Morocco had achieved a consistent growth rate of 5.8 % over the last ten years. This growth was now fairly balanced and less volatile.
Such economic growth was the outcome of Morocco`s efforts to further consolidate financial vigor and macroeconomic stability, as well as a measured process of opening up to the world economy.
The Minister added that this economic growth was stimulated by domestic demand, the emergence of a middle class, and the consolidation of a healthy, innovative and aggressive banking system. No less important was Morocco`s strong presence in a thriving region attracting greater investment.
To benefit form its strategic position, Mr. Mezouar stated that Morocco had launched important projects designed to expand its infrastructure, notably with the regional maritime transport hub in the Tangiers area. He also underlined the development drive in the sectors of transportation, energy, housing, sustainable development, health and education.
It is thanks to solid domestic demand, a vibrant financial sector, and massive public investment that Morocco is in a position to weather the world crisis.
Moreover, Mr. Mezouar predicted a growth rate of 5 to 6% for Morocco in 2009, which would be the highest rate in the region.