Moroccan economy continues to show “solid” performance despite global crisis: WB Vice-President

The Moroccan economy continues to show a “solid” and good performance, despite the global economic crisis, said Thursday in Rabat, the Vice-President of the World Bank (WB) for the Middle East and North Africa (MENA), Inger Andersen.

“Considering the difficult economic situation that many countries are going through, particularly the crisis in the Euro zone, the Moroccan economy is still showing solid performance,” Anderson told the press at the end of a meeting with the head of government, Abdelilah Benkirane.

At a time when the world is experiencing a financial and economic crisis, “Morocco has achieved a growth rate of nearly 5% in 2011, which is a very large achievement” in an unfavorable global environment, she said.

The WB Vice-President welcomed the National Initiative for Human Development (INDH), which is, as she says, a model to be followed by countries in the region.

The countries of the region could learn from the Moroccan experience in sustainable development, she said.

The World Bank had approved, last June, a loan of $ 300 million for Morocco to support the second phase of the INDH, which aims to provide improved services and economic opportunities for disadvantaged communities in urban and rural areas of the Kingdom.

Anderson said she had discussed with the head of government reforms underway in Morocco in various fields, including those relating to the Subsidy Fund, strengthening transparency and the promotion of the business climate.