The great economic boom of Morocco. In ten years the country managed to become the fifth economy in Africa and the third in the north of the continent.
Despite the problems, bad relations with some neighbors like Algeria or youth unemployment, the Kingdom today has a GDP of 114,000 million, which makes it the fifth economy in Africa and the third economy in the northern regions. of the continent. This fact represents a great and accelerated economic dynamism that gives the nation great advantages in all sectors. The annual report known as Doing Business, in its latest ranking, has placed the Alawite country at number 53, up more than 50 places since it was previously at number 114.
Morocco, for its part, has involved various factors that have placed it in one of the best economies on the African continent. and that is verified with the figures obtained by the nation. Its good position coincides with the coronation of King Mohamed VI in 1999. The monarch, with very advanced measures, has managed to make a place for Morocco on the map, especially by betting on various sectors, mainly automobiles, aeronautics and agriculture.
There are also other factors that prove the fact that the country obtains great figures. Morocco is a country with a strategic position in the world, since it opens the door along with Spain to boatmen and merchants who want to enter the Mediterranean Sea and the countries bathed by these waters. In addition, it also serves as a gateway to sub-Saharan Africa, since the continent is a target for large companies and the Maghreb facilitates their entry. At the same time, it is the only nation that serves as the main entrance to America, something that benefits both Arab and Asian countries.
Another factor that makes Morocco relevant in the world is its political system, which is a monarchy. Mohamed VI has implemented great social and political changes, which have resulted in establishing an important stability that the countries around him, which do not have monarchies, do not have. For his part, the monarch has managed to invest in important actions and, above all, obtain large foreign investments that foreign countries have taken good advantage of. Therefore, several well-known companies have established themselves in the region and, as a consequence, make way for their entry into the continent.
Morocco's investment is also quite considerable and makes it one of the main investors. Currently, the focus is on expanding its investment policies in neighboring African countries and is receiving great results, since the country does not try to do business in a “colonialist” manner, something that countries in the European Union or others try to do. “Morocco is the first recipient of foreign direct investment in the Maghreb and one of Spain's main trading partners outside the EU, along with Turkey, the United States and the United Kingdom,” said Ricardo Santamaría, director of Country Risk and Debt Management at Cesce.
The Alawite kingdom is entering the list of new powers and that leads to challenges, but also consequences. Many countries are threatened, especially European ones, by Morocco's incipient entry into the world economy and many do not conceive that, being a former colony, it can become relevant. The Maghreb country has had to stand up to European regions such as Germany, which produced a secret report by the German institute SWP (Stiftun Wissenschaft Und Politik) in which the Central European country recognizes Morocco as a threat and asks the EU to take measures. so that it does not dominate its neighboring countries and control them. Recently it has also had to confront Spain over differences caused by issues such as the reception of the leader of the Polisario Front Brahim Ghali to be treated hospitably in Spanish territory.
Things have changed and now is the time for Morocco to play its leading role. Thanks to new alliances such as the United States, the United Kingdom, Israel, China and others, the nation is experiencing one of its best economic moments and everything indicates that this will continue 'in crescendo'.
Source: Atalayar by Jorge Ortiz