Morocco

With the Islamist opposition justice and Development Party (PJD) expected to make a strong showing in this year's parliamentary polls, anxiety has grown in many quarters and particularly amongst the investor community. However, we feel such fears are overblown: not only will ultimate decision making power lie with the king, but Morocco's proportional representation electoral system necessitates the formation of a coalition government. As the director of investment at the Ministry of Economy and Finance told BMI recently, 'there will be no change' in Morocco's reform process - though we do expect a slightly rockier path ahead.

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