Morocco’s constitutional reform to help boost economic growth- Bloomberg news

PERSISMA, Washington – The constitutional reforms- adopted by a popular referendum- will help boost Morocco’s economic growth, Bloomberg news said Wednesday on its website.

“Morocco is perceived as one of the most stable countries in the region and it proved to be so when protests started,” Bloomberg news quoted Mohamed Abu Basha, an economist at Cairo-based EFG-Hermes Holding SAE, as saying.

“The International Monetary Fund predicts political reforms will help Morocco’s economy grow 4.6 percent this year,” the same source noted.

“Thanks to sound macroeconomic policy and political reforms, Morocco was well-equipped to respond to the social unrest,” Bloomberg news quoted the IMF July report as saying, adding athat In such a challenging environment, “Morocco has performed well economically and has seen its social indicators improve.”

“Foreign investors now prefer to invest in Morocco rather than Egypt or Tunisia,” added Bloomberg news quoting Alae Yahya, an analyst at Casablanca-based Sogecapital Bourse, a unit of Societe Generale SA.

Source: MAP