- published: 25 Dec 2015
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Morocco's economy is considered a relatively liberal economy governed by the law of supply and demand. Since 1993, the country has followed a policy of privatization of certain economic sectors which used to be in the hands of the government. Morocco has become a major player in the African economic affairs, and is the 5th African economy by GDP (PPP). The World Economic Forum placed Morocco as the 2nd most competitive economy in North Africa behind Tunisia, in its African Competitiveness Report 2009. Additionally, Morocco was ranked the 1st African country by the Economist Intelligence Unit' quality-of-life index, ahead of South Africa.
Tough government reforms and steady yearly growth in the region of 4–5% from 2000 to 2007, including 4.9% year-on-year growth in 2003–2007 the Moroccan economy is much more robust than just a few years ago. Economic growth is far more diversified, with new service and industrial poles, like Casablanca and Tangier, developing. The agriculture sector is being rehabilitated, which in combination with good rainfalls led to a growth of over 20% in 2009.
Morocco (Arabic: المغرب al-Maghrib ; Berber: ⵍⵎⴻⵖⵔⵉⴱ / ⴰⵎⴻⵔⵔⵓⴽElmeɣrib / Amerruk), officially the Kingdom of Morocco, is a country located in North Africa. It has a population of about 32 million and an area of 710,850 km², including the disputed region of the Western Sahara, seen by and mostly administered by Morocco as the Southern Provinces. Morocco is part of the Maghreb region, in addition to Tunisia, Algeria, Mauritania, and Libya, with which it shares cultural, historical and linguistic ties.
Morocco is a constitutional monarchy with an elected parliament. The King of Morocco holds vast executive powers, including the power to dissolve the parliament. Executive power is exercised by the government but more importantly by the king himself. Legislative power is vested in both the government and the two chambers of parliament, the Assembly of Representatives and the Assembly of Councillors. The king can also issue decrees called dahirs which have the force of law. The latest Parliamentary elections were held in November 25, 2011, and were considered by some neutral observers to be mostly free and fair. Voter turnout in these elections was estimated to be 43% of registered voters, but only about 25% of Moroccan adult citizens actually voted. The rest either chose not to vote or they were not registered as voters. The political capital is Rabat, but the largest city is Casablanca; other main cities include Marrakesh, Tetouan, Tangier, Salé, Fes, Agadir, Meknes, Oujda, Kenitra, and Nador.