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COUNTRY PROFILES
morocco
Morocco – background information
General Information on Morocco
The Moroccan economy structure is dominated by the services
sector (54% of GDP in 2001) followed by the industry with
a share of 33% in GDP in 2000 and agriculture with 12%. The
manufacturing and tourist industry are growing fast. The annual
GDP growth during the past decade was approximately 2,2%,
in 1999 the growth was even negative (-0,7%) and showed an
incline in 2001 to reach 0,8%. Loans from the IMF and the
World Bank have supported the economy. The liberalisation
of foreign exchange and trade regimes, reform of the financial
system, the privatisation and the encouragement of foreign
investment are among the goals of the government.
The EU-Moroccan Association Agreement, entered into force
on 1 March 2000, replaces the Euro-Mediterranean co-operation
agreement signed in Brussels on April 1976. This agreement
foresees co-operation in the field of energy for: renewable
energy, the promotion of energy saving, the applied research
with regard to the database networks, connecting the economic
and social operators of the European Union and Morocco; support
for the efforts of modernisation and development of the energy
networks and their interconnections with the network of the
Community.
The signing of the Euro-Mediterranean Association Agreement
in February 1996 to bring Morocco into the Euro-Mediterranean
Economic Area triggered a fundamental change in the form of
financial co-operation. MEDA I defined as priorities to provide
support for the transition to a more efficient, open economy
and to provide extra support for ensuring social balance during
the economic restructuring process. Morocco's ability to absorb
MEDA I funds was satisfactory. Under MEDA II (2000-2006),
the Commission approved in the year 2000 5 projects for a
total of 134,5 million euro: Financial sector adjustment (52
million euro); health sector adjustment (50 million euro);
justice reform (27,6 million euro); integral rural development
at Khenifra (9 million euro); urban solid waste at Essaouira
(1,9 million euro). Since 2001, the EIB has been granting
loans from its own resources for a total of 323 million euro.
The sectors targeted are economic infrastructure (mainly roads)
and drinking water. [1,9,11]
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