Les Echos: Morocco's premier to administer shock therapy to economy
Morocco, Economics, 11/28/2002

Morocco's prime minister, Driss Jettou, is preparing "a shock therapy" for the Moroccan economy, wrote on Tuesday French economic paper "Les Echos."

The paper noted that the Moroccan government program, presented last week before the two Chambers of the Parliament, sets unemployment and the upgrading of the Moroccan economy as high priorities.

Jettou was inspired by King Mohammed VI economic directives, namely employment, economic development, education and decent housing, said the newspaper, noting that these priorities are dictated by the situation currently prevailing in the kingdom, "still very dependant on rainfalls" for its agriculture.

Recalling the local press favorable welcome to the program, "Les Echos" stressed that Morocco has no other alternative with the Free Trade Area's 2012 deadline closing in, as provided for by the Association Accord with the EU. "The Association Accord implies a shock therapy for the Moroccan economy with the speeding up of the privatization process and the modernization of Moroccan enterprises," added the paper, recalling that starting from year 2003, a 400 million dirhams (US$ 40 million) will be allocated to upgrade Moroccan enterprises.

A particular attention will be given to the consolidation of infrastructure in order to stimulate private investments, said les Echos.

"The program is ambitious," added the paper, citing in this regard the construction of Tangiers new port, 400 km of highway by 2007, the extension of the railway network and rural areas electrification.

Concerning the administration and justice reforms, claimed by corporate interests, Les Echos said that Jettou promised setting high standards for public life, and fighting corruption.

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