An economic report issued by the Spanish magazine Atalayar (AtalayarToday, Monday, the volume of Moroccan investment has developed in the first quarter of this year. He highlighted the Kingdom’s transformation into a vital economic pole, attracting major investors from around the world.
The report indicated that despite the turmoil in the region, as a result of the tension between Morocco and Algeria, the Moroccan economy continues to grow and succeed, and attracts large investors to it.
The “Atalayar” report said that Morocco is going through a great moment economically, as data and statistics show that the Kingdom’s economic situation is positive, growing steadily, and attracting the attention of large investors who see Morocco as a preferred destination for investment. He added, “At the end of the first quarter of this year, Morocco recorded very good numbers, in terms of bond collection, reaching $1.25 billion within five years.”
And the report continued, that achieving success in the field of investment bonds is just one of the successes that the Kingdom was waiting for, as the World Bank announced a growth of 3.1% for the year 2023, which is nearly three times the growth it achieved in 2022, which did not exceed 1.2%. %.
And he highlighted that these figures give rise to optimism, taking into account the slowdown experienced by all countries due to the energy crisis resulting from the war in Ukraine, in addition to the accelerated rise in inflation..
The report referred to Morocco’s interest in reducing the size of its debt, as it said: “Debt is one of the other issues that Morocco attaches the greatest amount of attention to, and it has come under control, according to the World Bank’s point of view, which expects a budget deficit of 4.6% compared to GDP.” This means that there has been an improvement compared to the numbers recorded last year, by 5.1%.
Regarding the importance of the reforms undertaken by Morocco, the report touched on the value of this data, given the many reforms it has undertaken, especially with regard to social protection, and thanks to these continuous measures, investors consider the Kingdom as one of the countries with great potential that has achieved growth in a short time..
The report notes that after the pandemic, which caused a drop in the GDP by 7.2%, the year 2021 was a year of recovery for the Moroccan economy, as it recorded a growth rate of 7.9%. However, the new global crisis has slowed the growth of the economy at 1.2%, which contradicts the new forecasts of the World Bank, which favors highlighting the importance of economic growth, at times when the coffers of the Moroccan economy are going through a good circumstance.
The same source warned of the continuing climate of instability in the region due to the tension between Morocco and Algeria, and the fear of a rapid escalation and the threat of attack by the government of Algerian President Abdelmadjid Tebboune..
In conclusion, the report emphasized that “the Kingdom will continue to strengthen its economy, ignoring the crisis with Algeria, which seeks to destabilize it,” noting at the same time that the work that Morocco is doing is appreciated by the International Monetary Fund, which allowed it access to a flexible credit line of $5,000. One million dollars, equivalent to 417% of the Kingdom’s participation in the International Monetary Fund. The aim is to meet the challenges of reconstruction through specific policies, while accelerating the implementation of its structural reform agenda in an environment characterized by increasing risks at the external level.