Mexico – Since His accession to the Glorious Alaouite Throne, HM King Mohammed VI has carried out a series of economic reforms that have radically transformed the Kingdom that has experienced a significant economic take-off, Mexican electronic newspaper LaVerdadNoticias writes.
The Sovereign has transformed Morocco’s economy through substantial investments in infrastructure as well as economic diversification and industrial development (agri-food, textile, mining and pharmaceutical industries), notes the media outlet.
Recalling that Morocco’s efforts to reduce poverty have also borne fruits with its rates going down from 15.3% in 2000 to 4.8% in 2013, the paper estimates that the Kingdom has also considerably increased its industrial capacity, ranking among the most advanced African countries in terms of manufacturing.
The Mexican website also notes that Morocco’s GDP growth should reach 3.3% in 2023-2024, according to the African Development Bank’s forecasts, explaining that this economic recovery comes a
fter a difficult period marked by internal (earthquake and drought) and external (fluctuations in raw material prices) factors.
The newspaper adds that Morocco has massively invested in infrastructure over the past two decades, with nearly 11.2% of GDP allocated to investments in public enterprises in transport, water and sanitation, irrigation, information and communication technologies, and electricity sectors.
In this regard, the e-paper underlines that rail transport has seen remarkable development with a denser and more modern network (Al Boraq), adding that maritime transport has seen significant developments.
The Kingdom has also shown remarkable resilience in the face of recent challenges, notably the Covid-19 pandemic and natural disasters, the Mexican media outlet notes, stressing that the economic outlook remains positive with growth forecast at 3.3% in 2025 and 3.5% in 2026.
Morocco, under HM King Mohammed VI’s reign, has made a strong commitment to energy transition, the media outlet continue
s, adding that the Kingdom also boasts the highest level of ICT development in Africa.
According to the Mexican newspaper, the last 25 years have been marked by significant economic diversification, making the Kingdom a key industrial and technological platform in Africa.
The reforms and strategies implemented under HM King Mohammed VI’s reign have transformed Morocco to a modern and dynamic economy, the journal notes, adding that multiple challenges remain, but the solid foundations laid during the past 25 years offer a promising base for the future.
Source: Agence Marocaine De Presse