Moroccan economy 'is becoming more resilient'
The Moroccan economy is becoming stronger and increasingly resilient to outside events, according to a new report.
Moody's Investors Service has published its annual report into the Moroccan economy, which has highlighted strong GDP growth and continuing structural reforms.
In particular, the improvement in the country's economic fortunes can be traced to an "expansion of non-agricultural GDP growth", as well as "industry-specific reforms".
Sara Bertin, author of the report and vice-president at Moody's, remarked: "GDP growth in 2006, which was around 8.1%, is likely to remain strong in 2007."
"Over the medium-to-long term, we expect positive trends to continue as the increased resilience of the Moroccan economy is linked to structural changes," she added.
Earlier this month, the European Commission announced plans to give Morocco a €654 million (£447 million) "assistance package" to continue the progress made in economic and structural reforms.
According to the CIA World Factbook, a primary economic aim of Morocco is to prepare the country for increased trade with the US and European Union and increasing tourism in the area.
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