Marruecos extiende su recuperación económica
The Directorate of Studies and Financial Forecasts (DEPF), located within the Ministry of Economy and Finance, has revealed in an economic note that Morocco's activity is showing a remarkable recovery after the coronavirus pandemic. According to this information, the progress made by the vaccination campaigns that have been achieved in the Kingdom, the measures imposed to improve the system, and the agricultural campaign of this past year, are several of the factors that show that the economy of the Alawi country is improving.
During 2021, there have been slight signs of recovery in several industries that have added a strong contribution to the national economy. In particular, these include the extractive and manufacturing industries, the electric power sector, construction and the telecommunications industry. But, while all this is good news, this department also points out that some sectors are in recession, such as tourism, as COVID-19 has taken its toll both in Morocco and globally, and even more so now due to the new strain that has forced the country to armour up.
In the case of the telecommunications sector, its main benefit to the growth of the economy has been e-commerce, teleworking and distance learning, as the pandemic has been a consequence of these factors. Telephony grew by around 8.2% at the end of June, and is up 1% year-on-year. There are almost 49.2 million subscribers in this sector and 2.4 million in fixed telephony. On the other hand, internet subscribers increased by 15.1% and there are now 31.3 million internet subscribers.
The DEPF also reports that the extractive sector closed 2020 with good results, increasing rock phosphate production by 9.9%. Moreover, this good result was consolidated thanks to exports of this material, which were up 8.9%, and its derivatives, which were up 15.7%. This concludes good results and the contribution of 50.8 billion dirhams.
The energy sector has also increased its production. This is due to the fact that in recent years there has been a reform in all its variants, be it oil, natural gas, etc. In particular, electricity stands out in its rise due to the liberalisation of the sector and the concession policies affecting its production and distribution. This industry has also opted for the use of renewable energies that are causing great results and that, in turn, is leading to more and more development.
Construction is another of the key points in this increase. Both in the development of tourist buildings to promote visits to the Kingdom, as well as in residential use itself, its increase is considerable in the economic recovery of the Alawi country. Since King Mohammed VI warned in 2001 of the plight of his less fortunate compatriots, plans and measures have been put in place to improve the real estate and construction sectors. In addition, there is also a programme that will create 15 new cities with the aim of reducing the pressure on the most crowded urban centres. It is worth noting that household consumption continues to grow and is directly supported by the income generated after the agricultural season. This explains its increase due to job creation and the banks' reinforcement of lending.
The nation's investment continues to grow, and this is driven by higher imports of goods and higher inflows of foreign wealth, leading to growth in public investment. Moreover, according to the DEPF, this dynamic has been created by the growth of more businesses, with the latest data reflecting growth of more than 53% since the end of August. It is worth noting that exports are booming and have surpassed their pre-crisis level, with 8.7% more than in 2019 and which affected the automotive, aeronautics, the food industry, electronics and electricity, and the textile and leather sales sectors.
