Economy of Morocco
Morocco has a developing market economy. Since 1993, in line with many Western world changes, it has followed a policy of privatisation. Morocco is the 5th largest African economy by GDP and seventh-highest GDP in the Arab world, despite not being an energy-producing country. Over the period 1971 and 2024, Morocco had annual GDP growth of 4.1334% and per-capita GDP growth of 2.3365%. Moreover, Morocco has a 5% projected 2026 GDP growth and GDP of $195.63 billion USD, according to the IMF. The economic system of the country demonstrated resilience to the climate, commodity, and pandemic shocks of the early 2020s. Since the early-1980s, the Moroccan government has pursued an economic programme toward accelerating economic growth. From 2018, the country's currency, the Moroccan dirham, is fully convertible for current account transactions; reforms of the financial sector have been implemented. The services sector accounts for just over half of the GDP. The industry...
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