Morocco's growth rate forecast decreased to 5 or 6% due to drought

Drought, which has affected 90% of Moroccan territory, has forced Morocco to revise its growth rate forecast downwards, from an expected 8% to a rate ranging between 5 and 6%.

Chairman of the Moroccan enterprises association (CGEM), Hassan Chami, told a plenary session of the association Moroccan enterprises will be affected by the situation and will face more hardships in dealing with international rapid changes and the slow pace of Moroccan administration. Despite the new discourse that enterprises will be the basis of development and wealth, he cautioned, it seems that social sectors will be favored to the detriment of enterprises.

Chami said modernizing administration has become a must to adapt to ongoing changes and support Moroccan enterprises' drives to improve their international competitiveness, as Morocco is braced to a free trade agreement with the European Union. The only alternative left to enterprises is to upgrade their competitiveness. This needs reforms and the creation of an appropriate environment, he insisted.