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)
- Morocco’s GDP predicted at 4.6 percent for 2002
- Morocco captures 60 percent of North Africa’s foreign capital flow
- Algeria ranks second in classification of foreign exchange reserves value
- Morocco’s trade deficit shrinks by 26 percent in 1Q
- Credit Populaire du Maroc records $83 million net income in 2001