NEWSROOM (ADV) – Morocco has achieved remarkable economic performance over the last decade and the medium-term economic outlook is favorable, notes the report of the African Development Bank (AfDB) on the “economic prospects in Africa 2019” presented Friday, in Addis Ababa.
The report presented by the African Union Commission and the AfDB to the Union headquarters on the sidelines of the 32nd Ordinary Summit of the AU, shows an increase in Morocco of the stock of structuring infrastructures thanks to a rate of investment averaged 34% over the 2008-2018 decade, up from 29.8% in 2007, enhancing the Kingdom’s attractiveness for foreign direct investment.
The paper notes that the introduction in 2018 by Bank Al-Maghrib of the floating exchange rate regime controlled within a range of ± 2.5%, as against ± 0.3% previously, was seen as a positive sign by investors and an important step towards a great flexibility of the exchange rate regime.
“In the first 8 months of 2018, the dirham price rose 1.9% against the euro and depreciated by 0.9% against the US dollar,” the report adds.
On the other hand, the report stresses that the diversification of the economy in the automotive, aerospace and electronics sectors, a key objective of the Industrial Acceleration Plan, should lead to an expansion of the economy.
© Bur-csa – A.H / N.A – African Daily Voice (ADV) – Follow us on Twitter : @ADVinfo_eng