ASSESSMENTS

What's in Store for Morocco in 2024

Jan 15, 2024 | 14:00 GMT

People protest against high living costs in Rabat, Morocco, on Feb. 20, 2023.
People protest against high living costs in Rabat, Morocco, on Feb. 20, 2023.

(FADEL SENNA/AFP via Getty Images)

In 2024, Morocco will invest in social and economic plans with funds from bilateral partnership deals and existing loan agreements. But if economic and social conditions in the country worsen, Rabat may face political turmoil that results in a Cabinet reshuffle or the prime minister's resignation. Morocco is balancing its long-term investment and growth goals with a cost-of-living crisis. To this end, the country has unveiled several long-term development, social service and foreign investment plans to promote economic growth and stability over the past several years. For example, in 2023, Morocco and Spain signed bilateral deals in which the latter agreed to increase trade and investment in many of Morocco's growing economic sectors, while the former agreed to increase security measures to prevent irregular migration to Europe. The same year, the World Bank and the African Development Bank provided funding agreements to expand Morocco's existing social service programs and increase...

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