Morocco is Africa’s fifth largest economic power
With an estimated Gross Domestic Product (GDP) of $34 billion, Morocco is Africa’s fifth largest economic power, accounting for 6.2 percent of the continent’s total GDP, reported the African Development Bank. South Africa, Egypt, Algeria and Nigeria are the continents top four strongest economies.
The North African state managed to reach its status without any oil reserves. It received three billion dollars in foreign investments in 2001, 60 percent of the total foreign capital flow to the North African region last year.
Among Africa's 15 most dynamic economies, Morocco hopes to lure $2.5 billion worth of foreign capital by the year’s end, half of which will be come from selling off several government owned companies, including the national car manufacturer and 20 percent of the Central Peoples Bank. — (menareport.com)
© 2002 Mena Report (www.menareport.com)