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Morocco resists financial crisis

Morocco resisted the world economic downturn thanks to its macro-economic policy, said WTO deputy director-general Alejandro Jara, adding that the kingdom weathered the crisis unlike many other countries.

Morocco succeeded in containing the crisis unlike many other countries, even developed ones, Jara told the daily “Aujourd’hui le Maroc”, adding that this reflects Morocco’s good macro-economic policy.

Jara pointed out that Morocco has “a very open economy” and “a clear trade policy” and called on Morocco to develop its ties with other African, Latin American, and Asian countries to diversify its investment opportunities.

Morocco boasts a special geopolitical and economic situation in the Mediterranean region, mainly in its relations with Europe and France in particular, he said, adding that the kingdom should adopt a global trade policy.

During the last 30 years, Morocco has embarked on a gradual but solid program of human development and political liberalization. Since the 1970s, gross national income per person more than quadrupled from $550 to $2,770.

The average life expectancy has increased from 55 years in 1970 to 72.5 in 2007. During the same period, the average number of births per woman has seen a dramatic decline from 6.3 to 2.3 while the number of children dying before age one has dropped from 115 to 38 (per 100,000 live births).

Substantial educational improvements during the past 30 years include a primary school net enrollment increase from 47 to 93.5 percent in 2007/08. Access to safe water is expanding particularly rapidly with quasi-universal access to potable water in urban areas where 83 percent of households are connected to reliable network service and the rest rely on standpipes and vendors.

Text by:George Haddad, May 22, 2010 – Read more: Morocco resists financial crisis


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