New industry strategy due to bring about Euro 8.2 billion additional GDP by 2013, study
Morocco, Economics, 5/26/2005

The new government strategy relating to the industry is expected to generate an additional GDP of MAD 91b (Euro 8.2b) and create some 440,000 jobs by the year 2013, said Morocco's Minister of Industry, Trade and the Economy Upgrade, Salaheddine Mezouar.

The estimate is the result of a study carried out by the Mac Kinsey consulting agency with the purpose of naming key sectors that will be the driving force of the growth of exports, and identifying the actions to be taken in order to improve the competitiveness of the industrial tissue.

According to the study, the growth rate of the industrial sector is expected to reach 4% and bring about MAD 42b (Euro 4.7b) of additional GDP and some 230,000 direct jobs.

The new strategy would also slash by 50% the deficit of the commercial balance, that is a decrease of MAD 34b (Euro 3.1b) by the year 2013, revealed the study.

The industrial sector, which only represent 18% of the GDP and ensures merely 8% of jobs, remains a fundamental and structuring element of the Moroccan economy, as it contributes to the macro-economic stability of the country.

The study identified a number of sectors likely to be promising for the economy: off shoring, automobile industry, electronics, industrial exploitation sub-contracting zones, food industry, sea food processing and handicraft.

Previous Stories:
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  Morocco government employees to work continuous hours   (5/24/2005)
  Morocco, Algeria trade exchanges drop by 6.8pc   (5/21/2005)

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