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Author: Roberto Cardarelli
Publisher: International Monetary Fund
ISBN:
Category : Economic development
Languages : en
Pages : 244
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Book Description
Throughout the past two decades, Morocco has faced several external and domestic shocks, including large swings in international oil prices, regional geopolitical tensions, severe droughts, and most recently the impact of the pandemic and the economic fallout from Russia's invasion of Ukraine. Despite rough waters, the government stayed the course and remained focused not only on immediate stability, but also on the long-term needs of the Moroccan economy. This involved the adoption of a series of difficult measures, like the elimination of energy subsidies, and a strategy aimed at improving the country's infrastructure, diversifying the production and export bases by attracting foreign investment, and modernizing the governance structure of the public administration. The road to higher and more inclusive growth, however, remains steep. Despite gains in poverty reduction, literacy and lifespans, Morocco economy continues to face a high share of inactive youth, large gaps in economic opportunities for women, a fragmented social protection system, and remaining barriers to private sector development. An ambitious reform agenda is needed to better meet the aspirations of Moroccans, by making economic growth stronger, more resilient and more inclusive, particularly to provide greater opportunities for young, women, and entrepreneurs. Morocco appears well positioned to address these challenges, and indeed, the country has recently sought to define and pursue a new "model of development", through national debates and a more inclusive approach to reform. Significant reforms have been announced recently that revamp both the social protection system and the SOEs business model. This book draws lessons from the reforms Morocco has implemented in the past few decades and charts a course for Morocco by addressing key areas for reform.
Author: Roberto Cardarelli
Publisher: International Monetary Fund
ISBN:
Category : Economic development
Languages : en
Pages : 244
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Book Description
Throughout the past two decades, Morocco has faced several external and domestic shocks, including large swings in international oil prices, regional geopolitical tensions, severe droughts, and most recently the impact of the pandemic and the economic fallout from Russia's invasion of Ukraine. Despite rough waters, the government stayed the course and remained focused not only on immediate stability, but also on the long-term needs of the Moroccan economy. This involved the adoption of a series of difficult measures, like the elimination of energy subsidies, and a strategy aimed at improving the country's infrastructure, diversifying the production and export bases by attracting foreign investment, and modernizing the governance structure of the public administration. The road to higher and more inclusive growth, however, remains steep. Despite gains in poverty reduction, literacy and lifespans, Morocco economy continues to face a high share of inactive youth, large gaps in economic opportunities for women, a fragmented social protection system, and remaining barriers to private sector development. An ambitious reform agenda is needed to better meet the aspirations of Moroccans, by making economic growth stronger, more resilient and more inclusive, particularly to provide greater opportunities for young, women, and entrepreneurs. Morocco appears well positioned to address these challenges, and indeed, the country has recently sought to define and pursue a new "model of development", through national debates and a more inclusive approach to reform. Significant reforms have been announced recently that revamp both the social protection system and the SOEs business model. This book draws lessons from the reforms Morocco has implemented in the past few decades and charts a course for Morocco by addressing key areas for reform.
Author: International Monetary Fund. Communications Department
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 73
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Book Description
Finance & Development, September 2023
Author: OECD
Publisher: OECD Publishing
ISBN: 9264423060
Category :
Languages : en
Pages : 143
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Book Description
Growth has rebounded from the pandemic and the energy crisis, despite the 2023 earthquake and droughts. Morocco has benefitted from a stable macroeconomic regime and the deficit is narrowing following the pandemic and energy crisis with the government debt ratio is around 70% of GDP. Morocco has embarked on major reforms to encourage investment and to extend health insurance and social protection, but a stronger convergence path will be needed to achieve the vision in the New Development Model. Morocco’s labour productivity gap with the frontier remains large, although it has narrowed. FDI flows have been strong, but domestic private investment is low, and Moroccan firms face obstacles in performing better. Morocco’s young population is an asset, but the labour market suffers from high youth unemployment and low female employment. Emigration is significant. Widespread informality leads to low wages, poor-quality jobs and weak skills. Morocco has made an ambitious commitment to reduce carbon emissions by 45% by 2030 compared to 2010 and to net zero by 2050, benefiting from the country’s potential for renewables-based generation. The country is vulnerable to climate change and already faces significant water stress. SPECIAL FEATURES: BOOSTING INVESTMENT, FIRM PERFORMANCE AND PRODUCTIVITY; CREATING MORE AND BETTER JOBS
Author: OECD
Publisher: OECD Publishing
ISBN: 9264734805
Category :
Languages : en
Pages : 45
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Book Description
This second OECD Investment Policy Review of Morocco assesses Morocco's domestic and foreign investment climate, as well as the challenges and opportunities facing the Government of Morocco in its reform efforts. The review draws on the OECD Policy Framework for Investment, the OECD FDI Qualities Policy Toolkit, the OECD Guidelines for Multinational Enterprises and other instruments under the responsibility of the OECD Investment Committee. It explores the trends and impacts of foreign direct investment on Morocco’s economy and society. It analyses the legal and institutional framework for investment, as well as measures to promote responsible business conduct. The review also focuses on how investment can support two priority levers of development in Morocco: regional development and digitalisation.
Author: Hippolyte W. Balima
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This paper assesses Morocco’s potential output and the scope for structural reforms to reverse the downward trend in economic performance observed since the Global Financial Crisis. Using multivariate filtering (MVF) techniques, our analysis finds that the downward secular trend in potential growth was primarily driven by the decline in the contribution of labor inputs. We then combine production function and general equilibrium model approaches to provide estimates of the potential macroeconomic impact of Morocco’s structural reform agenda. The results suggest that the planned structural reforms could deliver sizable output gains in the medium to long term with reforms that would reduce the large gender gap in Morocco’s labor market yielding the greatest payoffs.
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 63
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Book Description
Across the Middle East and Central Asia, the combined effects of global headwinds, domestic challenges, and geopolitical risks weigh on economic momentum, and the outlook is highly uncertain. Growth is set to slow this year in the Middle East and North Africa region, driven by lower oil production, tight policy settings in emerging market and middle-income economies, the conflict in Sudan, and other country-specific factors. In the Caucasus and Central Asia, although migration, trade, and financial inflows following Russia’s war in Ukraine continue to support economic activity, growth is set to moderate slightly this year. Looking ahead, economic activity in the Middle East and North Africa region is expected to improve in 2024 and 2025 as some factors weighing on growth this year gradually dissipate, including the temporary oil production cuts. But growth is expected to remain subdued over the forecast horizon amid persistent structural hurdles. In the Caucasus and Central Asia, economic growth is projected to slow next year and over the medium term as the boost to activity from real and financial inflows from Russia gradually fades and deep-seated structural challenges remain unsolved. Inflation is broadly easing, in line with globally declining price pressures, although country-specific factors—including buoyant wage growth in some Caucasus and Central Asia countries—and climate-related events continue to make their mark. Despite some improvement since April, the balance of risks to the outlook remains on the downside. In this context, expediting structural reforms is crucial to boost growth and strengthen resilience, while tight monetary and fiscal policies remain essential in several economies to durably bring down inflation and ensure public debt sustainability.
Author: Ms. Lisa L Kolovich
Publisher: International Monetary Fund
ISBN:
Category : Social Science
Languages : en
Pages : 24
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Book Description
As governments design policy packages to address the main macroeconomic questions of our times, putting a gender lens on macroeconomics can amplify reform impact. In this note, IMF staff’s analysis has called for attention to strengthening legal rights, gendered aspects of fiscal policy, and enhancing women’s work–life choices, including through structural reforms. Capacity development to assist member countries in their reform efforts has grown and, so far, has centered on integrating gender into public financial management systems through gender budgeting.
Author: Haoucha, Malika
Publisher: IGI Global
ISBN:
Category : Education
Languages : en
Pages : 335
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Book Description
In a world persistently grappling with gender disparities, the quest for women's empowerment and leadership stands as a pivotal challenge on the global stage. Across diverse societies, the journey towards gender equality in leadership remains fraught with systemic barriers, deeply ingrained stereotypes, and institutional hurdles. From corporate boardrooms to political arenas, women continue to face challenges in realizing their leadership potential. Global Insights on Women Empowerment and Leadership unveils this intricate narrative, offering a nuanced exploration of the triumphs, challenges, and evolving landscapes that define women's pursuit of empowerment across continents and cultures. Through a meticulously woven tapestry of stories, experiences, and struggles, the book sheds light on the shared aspirations and unique journeys of women navigating pathways towards parity and influence. This comprehensive resource is tailored for a diverse audience, including leaders and decision-makers across sectors, educators and students in gender studies, activists and advocates for social justice, professionals aiming for inclusive workplaces, international development organizations seeking effective strategies, and general readers interested in societal shifts. By catering to this spectrum, the book serves as a guide, offering insights, practical strategies, and inspiration for those committed to fostering environments where women can thrive as leaders, contributing to a more equitable world.
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 97
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Book Description
The Moroccan economy once again showed resilience to negative shocks in 2023, as economic activity accelerated, inflation slowed, and the current account deficit narrowed despite headwinds from water scarcity (which caused a severe loss of jobs in the agricultural sector), the September 2023 earthquake, and lower growth in the Euro Area. The ambitious infrastructure plan announced by the authorities (including in water and energy sectors) is expected to boost investment and growth in the next few years, with the current account gradually converging towards the medium-term norm. The fiscal deficit in 2023 was below the level projected in the Budget and the authorities reiterated their commitment to a gradual fiscal consolidation over the next three years. Implementation of the structural reform agenda has continued, particularly regarding the overhaul of social protection, health care, and education systems.
Author: Ruud A. de Mooij
Publisher: International Monetary Fund
ISBN: 1513511777
Category : Business & Economics
Languages : en
Pages : 388
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Book Description
The book describes the difficulties of the current international corporate income tax system. It starts by describing its origins and how changes, such as the development of multinational enterprises and digitalization have created fundamental problems, not foreseen at its inception. These include tax competition—as governments try to attract tax bases through low tax rates or incentives, and profit shifting, as companies avoid tax by reporting profits in jurisdictions with lower tax rates. The book then discusses solutions, including both evolutionary changes to the current system and fundamental reform options. It covers both reform efforts already under way, for example under the Inclusive Framework at the OECD, and potential radical reform ideas developed by academics.
