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Author: Roberto Cardarelli
Publisher: International Monetary Fund
ISBN:
Category : Economic development
Languages : en
Pages : 244
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Book Description
Throughout the past two decades, Morocco has faced several external and domestic shocks, including large swings in international oil prices, regional geopolitical tensions, severe droughts, and most recently the impact of the pandemic and the economic fallout from Russia's invasion of Ukraine. Despite rough waters, the government stayed the course and remained focused not only on immediate stability, but also on the long-term needs of the Moroccan economy. This involved the adoption of a series of difficult measures, like the elimination of energy subsidies, and a strategy aimed at improving the country's infrastructure, diversifying the production and export bases by attracting foreign investment, and modernizing the governance structure of the public administration. The road to higher and more inclusive growth, however, remains steep. Despite gains in poverty reduction, literacy and lifespans, Morocco economy continues to face a high share of inactive youth, large gaps in economic opportunities for women, a fragmented social protection system, and remaining barriers to private sector development. An ambitious reform agenda is needed to better meet the aspirations of Moroccans, by making economic growth stronger, more resilient and more inclusive, particularly to provide greater opportunities for young, women, and entrepreneurs. Morocco appears well positioned to address these challenges, and indeed, the country has recently sought to define and pursue a new "model of development", through national debates and a more inclusive approach to reform. Significant reforms have been announced recently that revamp both the social protection system and the SOEs business model. This book draws lessons from the reforms Morocco has implemented in the past few decades and charts a course for Morocco by addressing key areas for reform.
Author: Roberto Cardarelli
Publisher: International Monetary Fund
ISBN:
Category : Economic development
Languages : en
Pages : 244
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Book Description
Throughout the past two decades, Morocco has faced several external and domestic shocks, including large swings in international oil prices, regional geopolitical tensions, severe droughts, and most recently the impact of the pandemic and the economic fallout from Russia's invasion of Ukraine. Despite rough waters, the government stayed the course and remained focused not only on immediate stability, but also on the long-term needs of the Moroccan economy. This involved the adoption of a series of difficult measures, like the elimination of energy subsidies, and a strategy aimed at improving the country's infrastructure, diversifying the production and export bases by attracting foreign investment, and modernizing the governance structure of the public administration. The road to higher and more inclusive growth, however, remains steep. Despite gains in poverty reduction, literacy and lifespans, Morocco economy continues to face a high share of inactive youth, large gaps in economic opportunities for women, a fragmented social protection system, and remaining barriers to private sector development. An ambitious reform agenda is needed to better meet the aspirations of Moroccans, by making economic growth stronger, more resilient and more inclusive, particularly to provide greater opportunities for young, women, and entrepreneurs. Morocco appears well positioned to address these challenges, and indeed, the country has recently sought to define and pursue a new "model of development", through national debates and a more inclusive approach to reform. Significant reforms have been announced recently that revamp both the social protection system and the SOEs business model. This book draws lessons from the reforms Morocco has implemented in the past few decades and charts a course for Morocco by addressing key areas for reform.
Author: International Monetary Fund. Communications Department
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 73
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Book Description
Finance & Development, September 2023
Author: Hippolyte W. Balima
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This paper assesses Morocco’s potential output and the scope for structural reforms to reverse the downward trend in economic performance observed since the Global Financial Crisis. Using multivariate filtering (MVF) techniques, our analysis finds that the downward secular trend in potential growth was primarily driven by the decline in the contribution of labor inputs. We then combine production function and general equilibrium model approaches to provide estimates of the potential macroeconomic impact of Morocco’s structural reform agenda. The results suggest that the planned structural reforms could deliver sizable output gains in the medium to long term with reforms that would reduce the large gender gap in Morocco’s labor market yielding the greatest payoffs.
Author: Mr.Alexei P Kireyev
Publisher: International Monetary Fund
ISBN: 1484332040
Category : Business & Economics
Languages : fr
Pages : 70
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Book Description
Le présent document examine les réformes macroéconomiques que Djibouti doit opérer en vue de devenir un pays à revenu intermédiaire comme prévu dans la stratégie de développement des autorités, Vision Djibouti 2035. Il passe en revue les options dont disposent les autorités dans trois domaines de réforme essentiels : traduire l’essor de l’investissement en une croissance vigoureuse et inclusive pour réduire la pauvreté et le chômage ; mener une politique budgétaire propice à la croissance tout en préservant la viabilité de la dette, et le rôle important du climat des affaires dans l’accélération de la croissance.
Author: Ruud A. de Mooij
Publisher: International Monetary Fund
ISBN: 1513511777
Category : Business & Economics
Languages : en
Pages : 388
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Book Description
The book describes the difficulties of the current international corporate income tax system. It starts by describing its origins and how changes, such as the development of multinational enterprises and digitalization have created fundamental problems, not foreseen at its inception. These include tax competition—as governments try to attract tax bases through low tax rates or incentives, and profit shifting, as companies avoid tax by reporting profits in jurisdictions with lower tax rates. The book then discusses solutions, including both evolutionary changes to the current system and fundamental reform options. It covers both reform efforts already under way, for example under the Inclusive Framework at the OECD, and potential radical reform ideas developed by academics.
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 63
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Book Description
Across the Middle East and Central Asia, the combined effects of global headwinds, domestic challenges, and geopolitical risks weigh on economic momentum, and the outlook is highly uncertain. Growth is set to slow this year in the Middle East and North Africa region, driven by lower oil production, tight policy settings in emerging market and middle-income economies, the conflict in Sudan, and other country-specific factors. In the Caucasus and Central Asia, although migration, trade, and financial inflows following Russia’s war in Ukraine continue to support economic activity, growth is set to moderate slightly this year. Looking ahead, economic activity in the Middle East and North Africa region is expected to improve in 2024 and 2025 as some factors weighing on growth this year gradually dissipate, including the temporary oil production cuts. But growth is expected to remain subdued over the forecast horizon amid persistent structural hurdles. In the Caucasus and Central Asia, economic growth is projected to slow next year and over the medium term as the boost to activity from real and financial inflows from Russia gradually fades and deep-seated structural challenges remain unsolved. Inflation is broadly easing, in line with globally declining price pressures, although country-specific factors—including buoyant wage growth in some Caucasus and Central Asia countries—and climate-related events continue to make their mark. Despite some improvement since April, the balance of risks to the outlook remains on the downside. In this context, expediting structural reforms is crucial to boost growth and strengthen resilience, while tight monetary and fiscal policies remain essential in several economies to durably bring down inflation and ensure public debt sustainability.
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 97
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Book Description
The Moroccan economy once again showed resilience to negative shocks in 2023, as economic activity accelerated, inflation slowed, and the current account deficit narrowed despite headwinds from water scarcity (which caused a severe loss of jobs in the agricultural sector), the September 2023 earthquake, and lower growth in the Euro Area. The ambitious infrastructure plan announced by the authorities (including in water and energy sectors) is expected to boost investment and growth in the next few years, with the current account gradually converging towards the medium-term norm. The fiscal deficit in 2023 was below the level projected in the Budget and the authorities reiterated their commitment to a gradual fiscal consolidation over the next three years. Implementation of the structural reform agenda has continued, particularly regarding the overhaul of social protection, health care, and education systems.
Author: Jean-Pierre Chauffour
Publisher: Directions in Development
ISBN: 9781464810664
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Morocco 2040: Emerging by Investing in Intangible Capital documents the major economic and social strides made by Morocco over the past 15 years and analyzes the economic conditions for accelerating the pace of economic catch-up by 2040. A virtuous yet realistic scenario suggests that with higher productivity gains Morocco could double its current pace of convergence with Southern European countries. In one generation, Morocco's standard of living could reach about 45 percent of that of Spain, its immediate Northern neighbor, compared to the current rate of 22 percent. To lay out the possible pathways for Morocco to become the first North African country to attain upper middle income status, the Book then investigates the policies that could bring about such a virtuous scenario of accelerated economic convergence. It shows that sustaining higher productivity gains for 25 years would require greater efforts at building Morocco's institutional, human and social capital--what is also known as intangible capital. Accumulating such intangible capital necessarily take a number of different forms and the Book proposes a four-pronged approach. First, by strengthening Morocco's market institutions for a more efficient allocation of capital and labor and international integration. Second, by strengthening Morocco's public institutions to strengthen the rule of law and justice, modernize the public administration, and improve the quality of public service delivery. Third, by strengthening Morocco's human capital, especially education, health and the development of early childhood. And fourth, by strengthening Morocco's social capital through greater gender parity and increased interpersonal trust and civism in society. By placing more of a priority on its intangible capital, Morocco would be advancing a social contract based on the promotion of a more open society. It would be taking a route that is partly new, but which is also the logical outcome of many economic and social diagnoses and pressing calls for change.
Author: Fernanda Brollo
Publisher: International Monetary Fund
ISBN: 1513582399
Category : Business & Economics
Languages : en
Pages : 21
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Book Description
This paper assesses the additional spending required to make substantial progress towards achieving the SDGs in Pakistan. We focus on critical areas of human (education and health) and physical (electricity, roads, and water and sanitation) capital. For each sector, we document the progress to date, assess where Pakistan stands relative to its peers, highlight key challenges, and estimate the additional spending required to make substantial progress. The estimates for the additional spending are derived using the IMF SDG costing methodology. We find that to achieve the SDGs in these sectors would require additional annual spending of about 16 percent of GDP in 2030 from the public and private sectors combined.
Author: Ms. Doris C. Ross
Publisher: International Monetary Fund
ISBN: 149832021X
Category : Business & Economics
Languages : en
Pages : 181
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Book Description
This publication highlights Mozambique’s remarkably strong growth over the two decades since the end of the civil war in 1992, as well as the major challenges that remain for the country to rise out of poverty and further its economic development. Chapters explore such topics as the role of megaprojects and their relationship to jobs and growth; infrastructure and public investment; Mozambique's quest for inclusive growth; developing the agricultural sector; and building a social protection floor.
