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Economy / Morocco

Morocco

May 2009 | Ratings Update

Official figures and anecdotal evidence both suggest that Moroccans who have been working abroad are being forced home by the global economic crisis. According to data from the Moroccan consulate in Spain, more than 30,000 nationals have lost their jobs there over the past year. Spain is home to an estimated 800,000 Moroccans, second only to France, which hosts 1.2mn. With the eurozone now in deep recession - we are forecasting the bloc's economy to contract by 4.2% in real terms in 2009 - thousands of jobs are being slashed in areas such as construction, catering and manufacturing, forcing migrants

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