The document provides an overview of Morocco's macroeconomic environment and progress. It discusses Morocco's GDP growth rate, which has averaged 5.9% but slowed to 3.2% in 2012 due to economic issues in Europe and a failed crop. Unemployment, a high current account deficit, and budget deficit are noted as ongoing economic problems. The document also examines Morocco's fiscal and monetary policies, and provides data on its balance of payments, current account balance, unemployment rate, industrial production, inflation rate, and other key economic indicators over several years. Recommended solutions to unemployment and deficits focus on policies to boost job creation and reduce spending.
Macro environment Analysis of BangladeshEmran Hosain
The macro environment of Bangladesh is every bit as important to a company as the micro-environment. So much in fact, that it can’t be taken for granted. This analysis showed some of the characteristics of the environment and how different companies have used the opportunities and made a name. This was the purpose of the analysis all along.
A few years ago, I made this powerpoint slide for my class presentation. If you need anything related to the Industrialization in Bangladesh, It might be helpful for you.
Cointelegraph network is expanding fast!
Last week Martin Albert from Germany has joined our team. Congrats!
By the way many countries are still available! It won't last long)
So Hurry Up! There will be only 1 franchisee per country.
Contact us: franchise@cointelegraph.com
Macro environment Analysis of BangladeshEmran Hosain
The macro environment of Bangladesh is every bit as important to a company as the micro-environment. So much in fact, that it can’t be taken for granted. This analysis showed some of the characteristics of the environment and how different companies have used the opportunities and made a name. This was the purpose of the analysis all along.
A few years ago, I made this powerpoint slide for my class presentation. If you need anything related to the Industrialization in Bangladesh, It might be helpful for you.
Cointelegraph network is expanding fast!
Last week Martin Albert from Germany has joined our team. Congrats!
By the way many countries are still available! It won't last long)
So Hurry Up! There will be only 1 franchisee per country.
Contact us: franchise@cointelegraph.com
Brexit is the withdrawal of the United Kingdom (UK) from the European Union (EU). Following a referendum held on 23 June 2016 in which 51.9 percent of those voting supported leaving the EU, the Government invoked Article 50 of the Treaty on European Union, starting a two-year process which was due to conclude with the UK's exit on 29 March 2019. That deadline has since been extended to 31 October 2019.
My group created an Integrated marketing strategy plan for Nike athletic shoes, based on the data collected from Nike 10K report, Statista, IBISWorld, and etc. in 2018. This slides include but not limited to industry analysis, market analysis, competition analysis, business analysis, recommendations for 2019.
Group work in International Trade (March 2015):
PESTLE model should help us to evaluate the country Brazil in terms of its attractiveness as a trade partner country. My part: "Future Development" of Brazil (Slide p. 35)
In course of the presentation, you get familiar with Brazil's politics, its economical situation, social environment, legal issues and shortly with its external environment. The research was conducted in March 2015.
These two regions, because they are neighbors, obviously have had relations since many decades. When looking into the relationship between the two, a common highlight that is found is Turkey’s prolonged desire to be part of the EU.
Brexit is the withdrawal of the United Kingdom (UK) from the European Union (EU). Following a referendum held on 23 June 2016 in which 51.9 percent of those voting supported leaving the EU, the Government invoked Article 50 of the Treaty on European Union, starting a two-year process which was due to conclude with the UK's exit on 29 March 2019. That deadline has since been extended to 31 October 2019.
My group created an Integrated marketing strategy plan for Nike athletic shoes, based on the data collected from Nike 10K report, Statista, IBISWorld, and etc. in 2018. This slides include but not limited to industry analysis, market analysis, competition analysis, business analysis, recommendations for 2019.
Group work in International Trade (March 2015):
PESTLE model should help us to evaluate the country Brazil in terms of its attractiveness as a trade partner country. My part: "Future Development" of Brazil (Slide p. 35)
In course of the presentation, you get familiar with Brazil's politics, its economical situation, social environment, legal issues and shortly with its external environment. The research was conducted in March 2015.
These two regions, because they are neighbors, obviously have had relations since many decades. When looking into the relationship between the two, a common highlight that is found is Turkey’s prolonged desire to be part of the EU.
We've had a couple of our clients recently request information on key differences between Emerging and Developed Markets. Given that we operate across a range of such markets, we've shared some insights of such differences.
On June 23rd 2016 the UK voted in a referendum to leave the European Union. Prime Minister David Cameron resigned the morning after the vote and a few weeks later, Theresa May was elected leader of the Conservative Party and new Prime Minister
The process of Brexit has begun although the timing of the decision to invoke Article 50 of the EU treaty remains uncertain
Once Article 50 is invoked, there is a maximum period of two years before the UK finally leaves the EU. The terms of the UK’s new economic relationship with the EU also remain uncertain.
Digital economy for Somalia how it can help the nationAli Mohammed
Somali Government should take the leadership and courage to recognize and reap in the unexplored benefits of digital economy and ICT so that Somalia can reach new heights as far as development is concerned. Somalia Needs a visionary who has the courage to take the first leap.
Sustainable approaches to poverty reduction in Togo in a Post-Sustainable Dev...woleakiyode
Togo is located in West Africa bordered in the east by the Benin Republic, west by Ghana, north by Niger and in the south by the Atlantic Ocean. Togo is currently riddled with massive unemployment which contributes to its socio-economic problems especially extreme poverty. This has affected the level of education of children, encourage child labor, led to hunger and malnutrition. Togo strength of Agriculture and its mineral potential has not been fully exploited but could be unlocked through blended financing that will create jobs and reduce poverty.
Morocco provides access to a large market of customers owing to its strategic location, free trade agreements (FTAs) and a world class infrastructure. It is situated only 14 km from the European coasts and is also at the crossroads of the main international exchange routes, linking the United States of America, Europe, the Middle-East and Africa. It has entered into multiple free trade agreements which give companies an access to a market of 55 countries representing a billion consumers and over 60% of the world's GDP.
Improving the Management of Major Risks in Morocco - OECD Key FindingsOECD Governance
The review provides an objective assessment of recognised risk management policies by international experts. The study identifies both the successes and strengths of the existing system, and also the challenges to overcome in order to improve Morocco's resilience in coping with major risks. For more information on the launch of this review, see http://www.oecd.org/governance/risk/launch-event-improving-the-management-of-major-risks-in-morocco.htm
Entrepreneurial Developments in the MENA RegionExampTanaMaeskm
Entrepreneurial
Developments in the
MENA Region
Example of an Information Rich
PowerPoint Project
Prof. R. Simeon
Overview
▫ Intro to the MENA Region
▫ Historical Developments
▫ Regional Characteristics
▫ Main Countries Affected by Entrepreneurship
Developed
▫ Significant Developments
▫ Highlights of Companies/Organizations
▫ Future Issues in the MENA Region
Introduction to the MENA Region
Algeria
Bahrain
Djibouti
Egypt
Iran
Iraq
Israel
Jordan
Kuwait
Lebanon
Libya
Malta
Morocco
Oman
Qatar
Saudi Arabia
Syria
Tunisia
UAE
West Bank
Gaza
Yemen
MENA is an acronym
referring to the Middle
East and North Africa.
The MENA region stretches
from Morocco to Iran.
It carries a population of 381 million
people (6% of the world population).
The vast majority of this population live
in middle-income countries.
The MENA region carries 60% of the
world’s oil reserves and 45% of the
world’s natural gas reserves. 8 of the
12 OPEC nations are within the MENA
region.
It is relatively synonymous
with the term the Greater
Middle East.
Historical Developments
Throughout history there has been civil instability in
the area that have been extremely publicized in the
media, attracting attention worldwide.
Iran-Saudi Arabia proxy
conflict:
Traced back to the Iranian revolution,
both countries have long supported
different militaries since the Cold War
and, more recently, the Lebanese Civil
War.
Israeli-Palestinian conflict:
Key issues revolve around
borders, control of Jerusalem,
Israeli settlements, and more
importantly, cultural and religious
interests.
Rise in terrorism:
After the terrorist attacks of 9/11,
the Bush Administration declared
its War on Terror, invading
Afghanistan to take down the
Taliban Regime, in 2001.
U.S. Invasion of Iraq in 2003:
Carried over from the War in Afghanistan, the
invasion-Operation Enduring Freedom- had the
mission to “disarm Iraq of weapons of mass
destruction, to end Saddam Hussein’s support for
terrorism, and to free the Iraqi people.”
- President
George W. Bush
Rise of ISIS:
Originated from Jama'at al-Tawhid wal-Jihad
in 1999 (ISIS since 2014) pledged allegiance
to al-Qaeda. It identifies its leader, Abu Bakr
al-Baghdadi, as a caliphate, claiming
religious, political and military authority over
all Muslims worldwide.
Historical Developments
Iraq Civil War
Ongoing conflict,
as ISIS conquered
major areas in
northern Iraq. The
Arab Spring
A revolutionary wave of violent
and nonviolent protests, riots,
coups, and civil wars
throughout the MENA region.
Syrian Civil War
A multi-sided armed conflict resulting from
protests calling for the removal of
President Bashar al-Assad during the Arab
Spring. Violent government response lead
to many armed groups fighting and
displacing over 6M people.
Libyan Civil War
Ongoing conflict, stemming from the Arab
Spring. After death of Muammar Gaddafi,
government control is unclear. The
economy is ...
Entrepreneurial Developments in the MENA RegionExamp.docxSALU18
Entrepreneurial
Developments in the
MENA Region
Example of an Information Rich
PowerPoint Project
Prof. R. Simeon
Overview
▫ Intro to the MENA Region
▫ Historical Developments
▫ Regional Characteristics
▫ Main Countries Affected by Entrepreneurship
Developed
▫ Significant Developments
▫ Highlights of Companies/Organizations
▫ Future Issues in the MENA Region
Introduction to the MENA Region
Algeria
Bahrain
Djibouti
Egypt
Iran
Iraq
Israel
Jordan
Kuwait
Lebanon
Libya
Malta
Morocco
Oman
Qatar
Saudi Arabia
Syria
Tunisia
UAE
West Bank
Gaza
Yemen
MENA is an acronym
referring to the Middle
East and North Africa.
The MENA region stretches
from Morocco to Iran.
It carries a population of 381 million
people (6% of the world population).
The vast majority of this population live
in middle-income countries.
The MENA region carries 60% of the
world’s oil reserves and 45% of the
world’s natural gas reserves. 8 of the
12 OPEC nations are within the MENA
region.
It is relatively synonymous
with the term the Greater
Middle East.
Historical Developments
Throughout history there has been civil instability in
the area that have been extremely publicized in the
media, attracting attention worldwide.
Iran-Saudi Arabia proxy
conflict:
Traced back to the Iranian revolution,
both countries have long supported
different militaries since the Cold War
and, more recently, the Lebanese Civil
War.
Israeli-Palestinian conflict:
Key issues revolve around
borders, control of Jerusalem,
Israeli settlements, and more
importantly, cultural and religious
interests.
Rise in terrorism:
After the terrorist attacks of 9/11,
the Bush Administration declared
its War on Terror, invading
Afghanistan to take down the
Taliban Regime, in 2001.
U.S. Invasion of Iraq in 2003:
Carried over from the War in Afghanistan, the
invasion-Operation Enduring Freedom- had the
mission to “disarm Iraq of weapons of mass
destruction, to end Saddam Hussein’s support for
terrorism, and to free the Iraqi people.”
- President
George W. Bush
Rise of ISIS:
Originated from Jama'at al-Tawhid wal-Jihad
in 1999 (ISIS since 2014) pledged allegiance
to al-Qaeda. It identifies its leader, Abu Bakr
al-Baghdadi, as a caliphate, claiming
religious, political and military authority over
all Muslims worldwide.
Historical Developments
Iraq Civil War
Ongoing conflict,
as ISIS conquered
major areas in
northern Iraq. The
Arab Spring
A revolutionary wave of violent
and nonviolent protests, riots,
coups, and civil wars
throughout the MENA region.
Syrian Civil War
A multi-sided armed conflict resulting from
protests calling for the removal of
President Bashar al-Assad during the Arab
Spring. Violent government response lead
to many armed groups fighting and
displacing over 6M people.
Libyan Civil War
Ongoing conflict, stemming from the Arab
Spring. After death of Muammar Gaddafi,
government control is unclear. The
economy is ...
Sonic Jobs Retention Challenge - Octalysis Prime Devansh DoshiDevansh Doshi
Winning submission for Octalysis Prime Challenge on improving number of applications by job seekers, short, medium, and long term retention of users on app. This involves understanding the user types and then developing useful product features that directly attack on those metrics.
Level One Octalysis Certification Submission | Google Pay India Devansh Doshi
Octalysis Certification is provided to candidates who display an understanding and show application of the gamification framework to real world problems. This level one submission is about how to Gamify the Google Pay experience to improve business metrics.
Global Markets of Polypropylene and Plastics Devansh Doshi
This is an article published in the Tradewinds Magazine of IIFT. It bascally talks about the economics of the global markets of polypropylene and plastics. It also discusses India's position in these markets.
This is an entry for the RB Mavericks Case Challenge 2014. It talks about developing the sexual well being category by developing twitter personalities.
Capturing the Youth in the Mobile SpaceDevansh Doshi
This is report prepared by the Marketing Research Cell of IIFT from primary research. It covers contemporary topics in mobile marketing such as Whatsapp marketing, missed call marketing, mobile advertising, and so on. It also talks about the service tax impact on this sector.
HS Code 3902: Polymers of Polyproylene AnalysisDevansh Doshi
This document discusses about global markets, market trends, India's export partners. This document explores certain potential market for India and strategies that can be used to achieve them. This data is till 2012 and is from WITS.
This report discussed the concept of Design for Failure and uses consumer electronics as an example. It also discusses the environmental impact of this design type.
This talk about hedge funds in simple terms. It covers hedge fund managers, investors, strategies, comparison between hedge funds and mutual funds, performance measurement, Indian scenario, and historical performance.
This is a document that covers the MSME financing in India. It explores the financing sources and problems in India. It talks about working capital financing via factoring and reverse factoring, cluster financing, Germany's cluster financing, listing looking at alternativa model of listing of ventures, and Thailand's SME bond markets. It also covers the need for policy redefinition of MSMEs and policy support required.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
NO1 Uk Rohani Baba In Karachi Bangali Baba Karachi Online Amil Baba WorldWide...Amil baba
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
1. 1
Prepared by Sec A Group 6
Abhay Sharma 1A
Aniruddh Srivastava 9A
Devansh Doshi 16A
Manasi Jain 23A
Sachin Gupta 38A
Vidooshi Joshi 55A
2. 2
Table of Contents
Kingdom of Morocco ..............................................................................................................................3
Morocco-Economic Environment......................................................................................................... 3
Morocco-Political Environment............................................................................................................ 3
Morocco-Social & Cultural Environment............................................................................................... 4
Morocco-Technological Environment................................................................................................... 4
Morocco-Ecological Environment......................................................................................................... 4
Morocco-Legal Environment................................................................................................................ 5
Macroeconomic Progress........................................................................................................................6
Economic Figures................................................................................................................................. 6
Growth................................................................................................................................................ 6
Macroeconomic Policy ........................................................................................................................ 7
Morocco Balance of Payments Summary ............................................................................................. 8
Morocco Current Account ................................................................................................................... 8
Morocco Unemployment Rate ............................................................................................................ 8
Morocco Industrial Production ............................................................................................................ 9
Morocco Consumer Price Index (CPI) ................................................................................................ 10
Morocco Inflation Rate ...................................................................................................................... 10
Macroeconomic Problems and Recommended Solutions..................................................................... 11
Problem Of Unemployment .............................................................................................................. 11
Policies to Reduce Unemployment .................................................................................................... 11
Problem Of High level of Current Account and Budgetary Deficit ...................................................... 12
Policies to reduce High CAD and Budgetary Deficit ............................................................................ 12
References............................................................................................................................................ 15
3. 3
KINGDOM OF MOROCCO
Kingdom of Morocco is located in the northwest of the African continent. It is bounded on the north by the Strait of
Gibraltar and the Mediterranean Sea, south by Mauritania, east by Algeria and the Atlantic Ocean. We would now
elaborate on the Political-economic-social-technological-ecological-legal aspects of Morocco.
Population 34,343,219
Capital Rabat
Official Languages Arabic,
Ethnicity Arab-Berber, Jews
Currency Moroccan Dirham(MAD)
1 Moroccan Dirham equals 0.12 US Dollar
Table 1.1 Demographics of Morocco
MOROCCO-ECONOMIC ENVIRONMENT
Morocco’s economy is relatively diverse. Key sectors include agriculture, tourism, mining, and textiles and apparel.
Through internal and Western Saharan mines, Morocco controls over 75% of world reserves of phosphates, which are
used in fertilizers—and of which the United States is the world’s largest consumer.
Remittances from emigrant workers, mainly in Europe, are another source of foreign exchange and a social safety net.
Morocco actively encourages foreign investment and trade, including through a Free Trade Agreement with the United
States and an Advanced Status agreement with the European Union. Morocco has a sound economic model which
combines openness, liberalization and newly introduced structural reform which has kept the economy going under
tough international and domestic conditions.
Agriculture sector, which employs almost half of the active population, accounts for 20% of the GDP. The sector is
extremely vital to the economy.
The main export commodities are clothing & clothes, electric machinery, inorganic chemicals, fish & other seafood.
Morocco’s two main import partners are the European Union and China.
USA
In 2006 Morocco entered into a bilateral Free Trade Agreement (FTA) with the United States; it remains the only African
country to have a FTA with US.
Europe
Morocco has close ties with the European Union (EU), although relations are occasionally troubled by issues of human
rights and the Western Sahara. The EU provides considerable aid and has been strongly supportive of Morocco’s political
reforms. France and Spain, Morocco’s former colonizers, have been its major bilateral donors, trading partners, and
sources of foreign direct investment
Morocco faced twin problems:
Economic slowdown in Europe, which is the chief economic partner and importer
Failed crop
The above two resulted in slowdown in growth to just 3.2% in 2012.
But apart from economy Morocco faces challenges on social life. From inequality and social disparity to very high
unemployment rates especially amongst young men and women is a big challenge for the state.
Uniqueness of Morocco
More economic transactions with the EU than its neighboring countries.
Special Strategic partnership with GCC (Gulf Cooperation Council), even though it’s not a part of the gulf
MOROCCO-POLITICAL ENVIRONMENT
4. 4
Morocco has had a relatively stable political environment since the 2011 revolution. The constitution was revised after
the demonstration by the people in Feb 2011. Under the new and revised constitution the parliament and the Prime
Minister were given more powers, however the King still remains the Head of the state and the "Commander of the
Faithful" as a direct descendant of the Prophet Mohammed. Morocco is a constitutional monarchy with an elected
parliament i.e. the head of the state is a monarchy. Morocco has a multi‐party system and parties must reach a political
consensus to be able to form a government coalition with the main parties: L’USFP, le PI, Le PJD, Le RNI. On 25
November 2011 the moderate Islamist Justice and Development Party (PJD) did best in the legislative elections by
winning 107 of the 395 seats to be filled. The new Prime Minister Abdelilah Benkirane (PJD) is recommending continuity
in economic policy. However despite the institutional changes, the power remains with a few elite. The Western Sahara
issue continues to hamper its relations with Algeria after the failed informal negotiation between Morocco and the
Polisario Front under the auspices of the United Nations (UN) in 2011.
MOROCCO-SOCIAL & CULTURAL ENVIRONMENT
Despite Morocco’s economic progress, the country suffers from high unemployment and poverty. Unemployment
(especially among young people), poverty, and illiteracy (especially in rural areas) remain high; according to the World
Bank, 8 million Moroccans, or one in four, live in “absolute poverty or under its constant threat.” Socioeconomic
hardships drive emigration and social unrest, and may be conducive to radicalization like Egypt and other Islamic states
in Africa.
Education in Morocco is free and compulsory through primary school (age 15). Nevertheless, many children –
particularly girls in rural areas – still do not attend school.
Morocco launched the INDH in 2005 to combat poverty in rural areas and social exclusion and insecurity in urban areas
through a participatory approach and by targeting the poorest communities.
Morocco, with a score of 25 is considered a collectivistic society. This means that people have a close long-term
commitment to the member 'group', be that a family, extended family, or extended relationships. People value relations
and business is run on relations. At a score of 70 on Hofstede’s Power Distance, Morocco is a hierarchical society. This
means that people accept a hierarchical order in which everybody has a place and which needs no further justification.
Hierarchy in an organization is seen as reflecting inherent inequalities existing in the society.
Morocco is primarily a Masculine state and emphasis is on performance and competitions where people try to outdo
each other. Also Morocco is classified as low on uncertainty tolerance.
MOROCCO-TECHNOLOGICAL ENVIRONMENT
Morocco has seen rapid development in the technological environment which has helped the state to drive up the
development and business. Morocco has had several reforms for Information and Communication technology in 1990’s.
The Moroccan government instituted a series of reform efforts that continued to build and leading up to the present-
day national ICT plan Maroc Numeric (Digital Morocco). This has helped Morocco be above its neighbors in terms of
technology. These were the steps taken by the government for enhancing the technological environment:
Expanding private competition and opting for an emphasis on technical requirements, innovation, quality, and access.
Programs to develop digital literacy among the older and rural population in addition to those that can effectively
cultivate a next generation of e-content and software producers and developers
Focusing on e-government and public service provision that is user oriented
MOROCCO-ECOLOGICAL ENVIRONMENT
Morocco has initiated measures to strengthen the ecological and environmental protection. These have been included
under the national charter for the environment and sustainable development (Charte nationale sur l'environnement et
ledéveloppement durable) since 2010. But there has been delay in implementation due to financial constraints. Also the
awareness and people participation is also low, thus the program has failed to bring about a big change.
Climate change has been taking place in Morocco which has led to droughts and downtrend of rainfall. But in 2012 the
efforts were increased after donations from EU. The government is also committed to improvement of water quality in
order to preserve the agro industry of the country.
5. 5
MOROCCO-LEGAL ENVIRONMENT
Judiciary of Kingdom of Morocco is an independent branch of Moroccan government. The legal system is mixed legal
system of civil law based on French law and Islamic law; Legislative power in Morocco is vested in the government and
the two chambers of parliament, the Assembly of Representatives (Majlis Al-Nuwab) and the Assembly of Councillors
(Majlis Al Mustahsareen)
A referendum was held in early July 2011 approving a new Constitution (post Arab Spring) which included the following
important reforms:
The King now has the obligation to appoint a Prime Minister from the party that wins the most seats in
parliamentary elections; and the Prime Minister is the head of government and president of the Council of
Government with the power to dissolve parliament
The Council of Government is in charge of preparing the general policy of the State
The King retains complete control of the armed forces, foreign policy and the judiciary, as well as the power to
choose and dismiss the Prime Minister, and control over matters pertaining to religion
6. 6
MACROECONOMIC PROGRESS
ECONOMIC FIGURES
Over the past few years the economy of Morocco has been characterized by a stable macro economy, low inflation rate
and a relatively slow growth. The government continues to enact several and multi-sector reforms and pursues the
liberalization of the economy in order to stimulate growth and create new jobs. The 4% growth in 2010 was due to the
rebound of the tourism sector, the immigrants’ remittances (transfer of funds) and also the performance of non-
agriculture sectors. The Gross Domestic Product (GDP) in Morocco expanded 4.5 percent in the third quarter of 2013
over the same quarter of the previous year. The government is putting serious efforts to diversify the economy away
from the agriculture sector, which is very dependent on weather conditions and its instability. From 1999 until 2013,
Morocco GDP Growth Rate averaged 5.9 Percent reaching an all-time high of 14.2 Percent in March of 2008 and a record
low of 0.5 Percent in December of 1999. Morocco is the fifth largest economy in Africa. Considerable attention has been
given to the development of off-shoring services. The GDP growth rate is having difficulties to stabilize. However the
strong economic fundamentals along the country’s increasing investment attractiveness put Morocco despite the
financial crisis, in a position projected to grow during the next coming years. A growth that however remains insufficient
to reduce the high unemployment rate (10%).
The fact that the budget deficit can be relatively supported, gives the country credit credibility in international markets.
Table 2.1 Morocco GDP Growth Rate
GROWTH
Growth has been driven by capital accumulation and domestic demand. On the supply side, growth has been mostly
driven by strong capital accumulation. Over the period 2002-2012, the contribution of capital accumulation has been
close to 45 percent. Labor has been the second factor providing the largest contribution (about 40 percent) while human
capital and total factor productivity (TFP) accounted together for less than 15 percent. However, while the contribution
of human capital has been rather constant, TFP’s contribution has markedly increased, reaching about 20 percent over
the past decade. On the demand side, growth has been exclusively driven by domestic demand (consumption
contributing to about 75 percent and investment to about 35 percent). In contrast, net exports have decreased during
the past decade, resulting in a negative growth contribution of external demand (about -10 percent).
7.4
3.2
4.9
2.7
4.85.3
3.6
4.5
2.2
5.1
12.4
5.7
3.4
5
2.7
7.3
9.1
2
4.9
2
0
2
4
6
8
10
12
14
16
2008 2009 2010 2011 2012 2013
Morocco GDP Growth Rate
Percentage Change in Gross Domestic Product
Q1 Q2 Q3 Q4
7. 7
Table 2.2 Growth Indicators comparison over the years
MACROECONOMIC POLICY
Fiscal Policy
In a difficult economic context, mainly related to the international crisis, Morocco has chosen an expansionist fiscal
policy to support domestic demand. Since 2002 the fiscal balance has been through three phases: a reduction of the
deficit up to 2006, followed by two years with a small surplus and then a countercyclical period since 2009. At the end of
2012, the budget deficit reached 7.5% of GDP but should be reined back to 5.3% in 2013. To this end a number of steps
are planned to increase public revenues. The tax reforms embarked upon several years ago should be continued. These
include widening the tax base, strengthening tax administration and elimination of non-productive tax breaks, to
improve the net contribution of public institutions and businesses and to get better value from the state’s private
domain. In addition, with a view to containing public spending, the government plans to pursue its program to
rationalize the state’s life style, strengthen public-private partnerships, reform the Organic Law relating to Finance Law,
and speed up reform of public procurement. State investment should continue in 2013, reflecting the determination of
the authorities to maintain their backing for economic activity.
Monetary Policy
Inflation, measured by changes in the consumer price index (CPI), remained at a relatively moderate level in 2012, rising
to 1.8% at the end of October. For the whole of 2012 forecasters predict inflation slightly above 1.3%. This inflationary
control is the result of a monetary policy that targets inflation and of government intervention. The annual rate of
growth of the money supply, as measured by the M3 aggregate, slowed at the end of October, increasing by 3.6%
compared with 5.0% the previous year. This reflects a fall in short-term deposits and a lower rate of growth of current
accounts, together with a greater fall in the monetary assets of private non-financial companies, as well as a slower rate
of growth of household assets. The annual growth rate of bank loans also slowed slightly, from 7.0% in 2011 to 5.4% at
the end of October 2012. The Moroccan dirham (MAD) is pegged to a basket of currencies dominated by the euro (EUR)
and had appreciated against the euro by 1.0% and fallen by 4.6% against the US dollar (USD) at the end of October 2012
compared with same period in 2011.
MOROCCO BALANCE OF PAYMENTS SUMMARY
Table 2.3 Balance of Payments Summary
8. 8
Morocco recorded a trade deficit of 14,722 MAD Million in November of 2013. Balance of Trade in Morocco averaged -
8767.43 MAD Million from 1998 until 2013, reaching an all-time high of -1,254.60 MAD Million in January of 1999 and a
record low of -22921 MAD Million in May of 2012. Phosphates and textiles are central to Morocco's export industry.
Other exports items include electric components, inorganic chemicals, transistors, citrus fruits, vegetables, and fish.
Morocco main exports partners are European Union countries with Spain, France and Italy being the most important.
Morocco imports crude petroleum, textile fabric, telecommunications equipment, wheat, gas and electricity, transistors,
plastics. Its main imports partners are: France, Spain, China, Italy, Germany, United States and Saudi Arabia.
MOROCCO CURRENT ACCOUNT
Table 2.4 Current Account Balance as a percentage of GDP over the years
Table 2.5 Current Account Balance over the years
Morocco recorded a Current Account deficit of 24,920.80 MAD Million in the second quarter of 2013. It averaged -
4691.42 MAD Million from 2001 until 2013, reaching an all-time high of 11697 MAD Million in the third quarter of 2002
and a record low of -28726.70 MAD Million in the second quarter of 2012.
MOROCCO UNEMPLOYMENT RATE
Unemployment Rate in Morocco increased to 9.10 percent in the third quarter of 2013 from 8.80 percent in the second
quarter of 2013. From 1999 until 2013, Morocco Unemployment Rate averaged 10.7 Percent reaching an all-time high of
7265.8
-3392.3 -527.9 -1451.6
-6958.3
-12769.5
-7503.9
-17865.9 -18176.5
-8184.9
-16515.7
-22414.1
-5676.9
-7749.7 -7096.6
-15327.3
-20602.3
-17420.8
-9001.6
-13419.8
-16456.6
-20013.2
-28726.7
-24920.8
-35000
-30000
-25000
-20000
-15000
-10000
-5000
0
5000
10000
2008 2009 2010 2011 2012 2013F
Morocco Current Account
(MAD million)
Q1 Q2 Q3 Q4
9. 9
15.1 Percent in September of 1999 and a record low of 7.8 Percent in June of 2006. On the whole, the growth rate of the
economy will not reduce the unemployment rate significantly, also taking account of the constant rise in the number of
first entrants on the labor market. Urban areas saw particularly strong job growth, and the services and construction
sectors were the two leading drivers of job creation. Services generated some 152,000 new jobs, with the business
process outsourcing (BPO) and telecoms sector proving particularly dynamic. Meanwhile, government infrastructure
projects, as well as heavy private investment in real estate and tourism helped boost the construction sector, which
created 80,000 new jobs in the second quarter of 2013.
Table 2.6 Unemployment rate as a percentage of Labor force over the years
MOROCCO INDUSTRIAL PRODUCTION
Industrial Production in Morocco increased 0.50 percent in the third quarter of 2013 over the same quarter in the
previous year. Industrial Production in Morocco averaged 3.22 Percent from 2000 until 2013, reaching an all-time high
of 9.40 Percent in the first quarter of 2000 and a record low of -4.40 Percent in the fourth quarter of 2008. In Morocco,
industrial production measures the output of businesses integrated in the manufacturing sector of the economy.
Table 2.7 Industrial Production Growth of Morocco
9.6 9.6 10
9.1
9.9 9.49.1
8 8.2 8.7
8.1
8.8
9.9 9.8
9 9.1 9.4 9.19.5 9 9.2
8.5 8.7
0
2
4
6
8
10
12
2008 2009 2010 2011 2012 2013F
Morocco Unemployment Rate
(% of Labor Force)
Q1 Q2 Q3 Q4
-1.6
0.6
2.6
3.7
-0.7-1
1.8 2.1
1
0.2
1.5
-0.3
2.6
1.7 1.5
-4.4
4
2.9 3.3
0.2
-6
-4
-2
0
2
4
6
8
2008 2009 2010 2011 2012 2013F
Morocco Industrial Production
Q1 Q2 Q3 Q4
10. 10
MOROCCO CONSUMER PRICE INDEX (CPI)
Consumer Price Index (CPI) in Morocco decreased to 113 Index Points in November of 2013 from 113.70 Index Points in
October of 2013. Consumer Price Index (CPI) in Morocco averaged 108.26 Index Points from 2007 until 2013, reaching
an all-time high of 113.70 Index Points in October of 2013 and a record low of 101.20 Index Points in February of 2007.
Table 2.8 CPI of Morocco over the years
MOROCCO INFLATION RATE
The inflation rate in Morocco was recorded at 1 percent in November of 2013. Inflation Rate in Morocco averaged 1.79
Percent from 2008 until 2013, reaching an all-time high of 5.20 Percent in May of 2008 and a record low of -1.60 Percent
in December of 2009.
Table 2.9 Inflation Growth Rate of Morocco over the years
98
100
102
104
106
108
110
112
114
116
2008 2009 2010 2011 2012 2013F 2014F
Morocco Consumer Price Index(CPI)
-3
-2
-1
0
1
2
3
4
2008 2009 2010 2011 2012 2013F 2014F
Morocco Inflation Rate
Annual Change in Consumer Price Index
11. 11
MACROECONOMIC PROBLEMS & RECOMMENDED SOLUTIONS
PROBLEM OF UNEMPLOYMENT
Overview
Morocco's unemployment rate, a cause for concern, though has been dropping steadily in 2008, on the back of job
growth in services and construction but on the whole, the growth rate of the economy will not reduce the
unemployment rate significantly, also taking account of the constant rise in the number of first entrants on the labor
market. According to the World Bank, 8 million Moroccans, or one in four, live in “absolute poverty or under its
constant threat.
With 30.5% of Morocco's population of 34.3 million aged 14 or younger, according to the EIU, job creation for the young
is one of the government's major priorities. 2013 data indicate that 17.6% of those in the 15–24 age group are
unemployed. This rises to around one third in urban areas—rural communities often employ the young in agriculture,
including on the family farm, as soon as they leave school, contributing to relatively high youth employment rates.
Consequences of High Unemployment
1. Low level of Production and High Poverty
With consistent high level of unemployment (~ 9%), consumer spending has decreased over the period which has led to
a sluggish growth in economy, as 3.2% growth in 2012 makes it impossible to reduce high level of employment. Weaker
tourism revenues and export demand, especially from Europe which accounts for 60% of trade, has been drag on
growth in recent years. Apart from this, cost of living has become unbearable to most of the sections of society.
2. Socioeconomic Hardships
Socioeconomic hardships like high level of unemployment drive emigration and social unrest and can be conducive to
radicalization. Though the Govt. has attempted to address discontent through social programs, subsidies etc. but it has
taken a toll over the Morocco’s economy. Regional instability and social unrest has brought about a decline in investor
confidence and highlighted many social issues.
POLICIES TO REDUCE UNEMPLOYMENT
Fiscal Policy
As Morocco has chosen an expansionist fiscal policy to support its domestic demand, it can start tax reforms which were
embarked years ago. With the widening of tax base and strengthening of tax administration, Govt. can increase its
revenue and thereby can provide Job Opportunities and unemployment allowance, which is indeed a redistribution of
income.
Also, Govt. should seek to attract Foreign Investment into priority sectors like textiles,
electronic components, Offshore Services and Tourism (a highly labor-intensive sector) and thereby helping to reduce
unemployment.
Monetary Policy
In the absence of any real inflationary pressures, the Central bank can increase money supply (M3) to boost the
borrowing and hence the investment, which will help in reducing unemployment and attaining high growth level.
12. 12
Also, the Central bank can increase the Expected Inflation, by announcing its measures and policies well in advance. It
will lead to proponents of Expected inflation to believe the central bank policies. With the increase in expected inflation,
it is quite possible that Inflation will increase in coming years according to Modified Philips Curve and because of
counter-cyclical relationship between inflation and unemployment, higher the inflation will decrease the
unemployment rate in the economy.
Apart from above, since Agriculture contributes 20% of GDP and employs 40% of total labor force, Govt. can introduce
favorable policies (fertilizer Subsidies, loan waivers to farmers) to strengthen this sector.
PROBLEM OF HIGH LEVEL OF CURRENT ACCOUNT AND BUDGETARY DEFICIT
Overview
With the sharp rise in imports of oil, vehicles and general purpose equipment, it shows the country’s inability to meet
some of the consumer needs through Domestic production and thereby leading to worsening of trade balance. In 2012,
current account deficit amounted to 8.6% of GDP. Rate of coverage of imports by exports fell to 48%.
Rising prices of raw material in the world market made it necessary for Morocco to emphasize on domestic demand to
counter the effect of declining demand from abroad. This in turn, led to worsening of Budget Deficit and recourse to
foreign debt. In the beginning of 2013, treasury debt had deepened to 58% of GDP.
Worsening of Budget Deficit (7.5% in 2012) and Current account deficit (8.6% in 2012) led the credit agency S&P
(Standard and Poor) to downgrade it’s rating of country’s long term debt from Stable to Negative, which is a setback to
the potential investors and Morocco’s planning of raising capital through Debt.
Consequences of High Current Account and Budgetary Deficit
1. Low level of Investor Confidence
Rise in current account deficit and budgetary deficit led to credit agencies like (S&P, Fitch or Moody’s) downgrading the
country’s investment grade or increasing the credit risk on Govt. issued Bonds, which had happened in Morocco’s
economy when S&P lowered its long term debt rating from positive to negative. Downgrading of Investment Grade
makes it very difficult to attract investors, which has led to low job opportunities and lower growth in economy.
2. Restrictions in gaining funds from International Bodies
High level CAD also posed hurdles for Morocco in gaining monetary funds from bodies like IMF, World Bank at cheaper
cost, which led to Govt. inability to perform social sector reforms like increase in allowance or subsidies to the needy,
which in turn had led to high income disparity over the years. Also, it restricted the Govt. ability to increase the
investment in various sectors to create different job opportunities for people.
POLICIES TO REDUCE HIGH CAD, BUDGETARY DEFICIT
1. Boosting Exports and Introduction of Economic Reforms
Govt. should emphasize on boosting exports by providing perks like preferential treatment, Tax Benefits. Also, reforms
in Automobile sector, Pharmaceutical, Aeronautical, Food processing, electronics etc. will help in gaining foreign
investment and boosting of demand.
Morocco’s main industries like Textile and Leather, which had fared less well in recent past due to weak demand in
Europe and a strong competition from Asian textile producers, should try to seek newer markets of Latin America and
should develop competitive strategies to overcome the threat from Asian producers.
Also, country should look towards reducing imports of non-essential products like food and consumer goods and
develop alternative source of energy to reduce the dependency on Oil imports, which accounts for 40% of total imports.
13. 13
Though recently Govt. had cut the petrol and diesel subsidies and reduced tax exemptions, especially in agriculture
sector but at the same time fiscal discipline should not be allowed to translate into a weakening of social protection
for the most vulnerable groups, or come at the expense of investment in infrastructure, education and health.
Apart from these, Govt. can look forward to legalize cannabis cultivation as Morocco is currently the leading producer
and exporter of cannabis in the world, responsible for 42% of the global supply and can make the crop available for
therapeutic and industrial use, which in turn will help in reducing the CAD.
2. Tax Evasion Amnesty
Morocco has a long history of tax evasion and is a rampant phenomenon here. According to the US based Political
Economy Research Institute (PERI) tax evasion from 1970 to 2012 period amounted to US $89bn, equivalent to
US$2.1bn per year. Govt. can provide tax amnesty by applying a one-time penalty on its citizens or corporations and
guarantee their anonymity and protection from prosecution.
It will help the Govt. to provide a one-off boost to public revenue as well as improving liquidity in the domestic banking
system. Repatriation of foreign assets would help revitalize Morocco's economy and increase the country's reserves in
foreign currency, which in turn reduces the CAD & budgetary deficit from as high as 7.5% of GDP.
3. Revival of Tourism Sector
As the tourism sector contributes around 7-8% of GDP, Moroccan Govt. should emphasize on revival of this sector.
Policies like Visa on Arrival, increasing number of flights between the countries like Saudi Arabia and Gulf countries
which have high per capita income can boost the tourism sector.
Also, Morocco can benefit from serious political turmoil in countries like Egypt, Tunisia etc. By diversifying the source
of foreign visitors and active marketing campaign can help the Govt. in reviving this sector. Though the number of
tourists visiting Morocco in Jan-Sept period totaled 7.8mn, which is 10.4% increase on a year on year basis but the tight
grip on spending led to just 1% increase in revenue, after contracting 1.4% in previous year (2012). Indeed, taking into
account inflation of 1.7% in the 12 months ending in September, it actually represents a reduction in tourism receipts in
real terms. In this way, Tourism sector revival can help Govt. in bridging CAD and budgeted deficit.
4. Monetary Policy
Since the Moroccan economy is embroiled with High CAD and High Budgetary deficit, Central Bank of Morocco can
implement Expansionary Monetary Policy as it can bear a slight increase in inflation given that it is at a record low. With
the Expansionary Monetary Policy, money supply (M3) will increase in the economy and as a result Interest rate will
come down and as a result Investment will increase as well as the Net Export. Increase in Net export can significantly
reduce the CAD.
Also, with the increase in investment, GDP will increase (i.e. increase in production level), which in turn will reduce the
unemployment and will increase the Disposable income. Increase in Disposable income will lead to higher spending by
the public and higher Govt. revenues. In this way, Central Bank of Morocco can help in reducing the Budgetary Deficit.
14. 14
REFERENCES
1. web.worldbank.org
2. imf.org
3. tradingeconomics.com/morocco
4. economywatch.com
5. africaneconomicoutlook.org
6. wikipedia.com
7. elibrary-data.imf.org/ (IMF e-Library)
8. www.ilo.org/global/statistics-and-databases/
9. www.economist.com (Economist)
10. www.cmie.com
11. www.hrw.org human rights watch
12. www.fas.org/ federation of American scientists
13. unctad.org/en/PublicationsLibrary/aldcafrica2013_en.pdf
THANK YOU