Investment Plan: Growth-Positive But Budget-Negative

The Moroccan public sector investment plan outlined this week confirms our view that the government would step in with some form of stimulus package to shore up economic growth and strengthen key sectors. The plan foresees US$7.3bn of investment in export-oriented manufacturing industries over the next seven years, supported by improvements in education, bureaucracy and operating conditions for small businesses. Unlike most European states, Morocco does not have to worry overly about bailing out a struggling banking sector, allowing it to focus its resources on supporting long-term development, diversification, and creating the right conditions to attract investment when the global

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