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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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
