Marruecos, líder regional en libertad económica
Morocco, like the vast majority of neighbouring countries, is looking for ways to adapt its economy to the circumstances that are hitting the financial stability of many nations. In the wake of the pandemic and the Russian invasion of Ukraine, Morocco's economy is at the top of the regional rankings in terms of economic freedom, according to a report by The Heritage Foundation. With a score of 58.4 - a drop of 0.8 points compared to the same report last year - Rabat ranks 97th in the world.
Thus, the Alawi kingdom outperforms its regional rivals, with Tunisia relegated to 132nd, Egypt to 151st and Algeria to 168th in the world. However, it should be noted that this report does not include official data from Libya and Mauritania. Morocco's superiority over its competitors is explained, according to the El Patrimonio Foundation, by the battery of economic reforms undertaken by the Kingdom, which have made it possible to promote economic dynamism in the private sector and increase the level of competitiveness of the public sector.
However, compared to the 2021 report, Morocco has experienced a drop of 14 positions. Some of the reasons given by experts for this decline are the impact of the pandemic on the economy, coupled with the energy crisis resulting from the war in Ukraine, as well as changes in supply chains. For these reasons, Morocco has launched a series of initiatives to promote economic dynamism and job creation, including projects with the European Union that aim to facilitate a leap forward in various sectors for Rabat.
The sub-indicators used by The Heritage Foundation for its report reveal some of the reasons why the Kingdom ranks ahead of other North African economies. In terms of market openness, Morocco receives 64.4 points, almost the same score as in freedom of investment, where it obtains 65 points. In terms of financial freedom, it climbs to 70 points to reach its best score in public spending, where it is awarded 72 points.
Organisational efficiency, another of the most important indicators, is also very positive for the Kingdom, scoring 65.3 points. This sub-indicator is relevant because it includes the criterion of freedom of enterprise. The two main areas Rabat needs to work on are judicial efficiency, where it scored only 32.8 points, and freedom of action, which scored close to half a hundred, with 47.6 points.
