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Economy

Morocco: A Rising Economic Power in a Transforming World

Tuesday 14 January 2025 - 11:37

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A recent analysis by the US National Intelligence Council highlights Morocco as one of the nations expected to experience significant economic growth in the coming years, joining the ranks of emerging "economic tigers." This term refers to countries that are poised for rapid economic transformation, driven by a combination of factors including a young workforce and favorable conditions for attracting foreign investment.

Morocco, alongside other North African nations such as Algeria and Tunisia, is forecasted to benefit from a demographic shift, with an increasing number of young people entering the workforce. This, coupled with sound economic policies, is expected to propel the nation toward substantial economic development, akin to the successes seen in countries like South Korea and Singapore.

The country’s strategic geographic location and commitment to economic diversification make it well-positioned to harness the potential of its youthful population. The report underscores the need for an educated, skilled workforce to maximize the economic benefits of this demographic change.

However, challenges remain, especially in the Middle East and North Africa region, where political instability, regional conflicts, and managing oil revenues pose significant hurdles. The report stresses the importance of political liberalization, good governance, and effective resource management to ensure sustainable development and long-term stability.

In the broader context of global transformation, the report anticipates a shift in power dynamics, with emerging economies like China and India challenging the historical dominance of the United States. Non-state actors, such as businesses and international organizations, are expected to play a larger role, adding complexity to the international landscape.

Moreover, the report highlights the importance of addressing global challenges such as climate change, resource scarcity, and technological advancements. While these innovations offer solutions to issues like energy security and food production, they also bring risks, including cyber threats and potential job displacement. Therefore, a renewed focus on human development, poverty reduction, and inclusive growth is crucial to ensure that the benefits of globalization are shared equitably across nations and populations.