INTRODUCTION OF MOROCCO
Morocco is an Islamic state, which is in the limelight due to its indigenous Berber people. Due to the rugged mountainous interior, this country has become the most attractive place or region for people around the globe. The population of the county is 33.8 million. Furthermore, the area of the country is 710,850 km (Square). The capital of the country is Rabat. The largest city in the country is Casablanca. This city has depicted some great contributions to the overall economic progress of the country. There are different languages which are spoken in this country. For Instance, primary languages are Moroccan, Arabic Berber and Hassaniya Arabic. This country represents 99% Arab-Berber. Morocco is a constitutional monarchy, which supports both, business and investment to emerge as a developed country. The currency of the country is Moroccan Dirham. It is located in the region of North Africa. Interestingly, due to the lengthy coastline along with the Atlantic Ocean, this country has gained many strategic benefits (Evans).
A HISTORY AND BACKGROUND OF MOROCCO
The history of this country seems interesting. The current area of this country is triggered by Paleolithic times. It has been revealed that Maghreb region was more fertile than today’s Morocco. Historically, it has been revealed that Saami of Scandinavia and natives (Berber) contained the link. The Islamic era in this region started from the 7th century. The role of the Umayyad caliphate was streamlined. Being the subsidiary province of the Ifriqiya, this country streamlined its rules regarding religious activities and many other developments. 1956 is the year of the freedom from France. It is a fact that the country has focused on different economic plans to contain prominent economic growth and sustainability. In 1956, King Mohammed V centralized the public policy regarding education and growth, which seems the base of the economic development (Barbour, Swearingen and Miller).
AN OVERVIEW OF MOROCCO ECONOMY & STATE OF ECONOMIC PROGRESS
According to 2017 estimates, the gross domestic product is $300,556 billion. Interestingly, the economy of the country has been considered as liberal economy. It is a fact that there are many sectors which have been privatized by the government. The policy of privatization is effective in this economy, which streamlines the contribution of different organizations. In 2013, this country has demonstrated 4.2% economic growth. Moreover, the service sector of the country is also important for economic development or growth or a long run. The success and growth of the economy are quite visible due to the contribution of the tourism industry. According to 2013 reports, 10 million people visited the country. Tourism is the biggest foreign exchange for this country, and ultimately, it creates the good impact on economic sustainability and growth. The government depicts pertinent investments to attract people and make this country a tourist hub. 45% population of the country is working I the agriculture sector, and accordingly, 14% a gross domestic product comes from this sector. However, external debt and unemployment are two major barriers in economic development and growth. The state of economic progress is quite visible when it comes to the energy sector. Interestingly, the country is focusing on cheaper energy production. 56% energy is produced by coal. The area of 56,986 km depicted the rapid development of the infrastructure. The emergence of international business and sustainability is triggered by the effective infrastructure of the country. According to the World Bank report, it is the fifth economy in the African region. In the African economic affairs, the contribution of this country cannot be ignored (Fanack.com).
Work Cited
Barbour, Nevill, et al. “Morocco.” Britannica. Britannica, 22 May 2018. Web. 11 June 2018. https://www.britannica.com/place/Morocco.
Evans, Alistair Boddy. “A Brief History of Morocco.” Thoughtco. Thoughtco, 8 March 2017. Web. 11 June 2018. https://www.thoughtco.com/brief-history-of-morocco-43987.
Fanack.com. “Economy of Moroco.” Fanack. Fanack, 28 August 2017. Web. 11 June 2018.
https://fanack.com/morocco/economy/.
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