Survey indicates boost in Moroccan production
A recent Employers' Federation (CGEM) survey indicated that 48 percent of businesses in Morocco experienced increased production in the second quarter of 2000. The jump was most notable in the construction materials, agri-food, and automobile sectors. However, output was stagnant in the trading and service sectors, the North African Journal reported.
An unrelated survey of the economic environment conducted by the Moroccan Economic Research Center (CMC) showed that 46 percent of businesses were hurt by domestic economic factors in the first half of the year, with the agri-food, metalwork, leather and rubber sectors especially hard-hit.
While companies involved in the electrical and capital good markets reported positive effects from a more global marketplace, 69 percent of responding companies cited productivity losses due to international economic factors.
Sound macroeconomic management has given Morocco a record of internal and external stability. During the past three years, inflation stabilized at under 3 percent, the external current account deficit remained below 1 percent of GDP, and official reserves strengthened. Much of the economic success is attributed to the country’s privatization program, which began in 1993. –(Albawaba-MEBG)
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