The Royal Institute of Strategic Studies (IRES) Report: preparing for after the crisis

According to the institute the goal is to identify and diagnose areas of vigilance to prepare for the post-crisis, but most importantly, to also build on the reforms already initiated to maintain the momentum of development; hence the theme: "Morocco facing the global financial and economic crisis: challenges and directions for a public policy".

Beyond the direct impact on certain sectors, "the crisis has highlighted structural deficiencies prior to the current situation affecting the Moroccan economy". Among the deficiencies, the IRES lists the following: limited fiscal sustainability, the growing trade deficit, the narrowness of the internal market, and the intermittent malfunctions. The problems are considered major in terms of strategic management and governance.

As such, the Institute reviews the different pending public and private strategies, including the first anti-crisis measures that have targeted the most vulnerable sectors (textiles, leather, automotive sub-contracting, tourism and electronics). However, the Institute states that the rate of non-agricultural growth will drop significantly this year. Moreover, the current payment balance will be weakened. This means that the current situation requires a thorough consideration of all the structural problems of the national economy.

Hence, according to the IRES, it is urgent to lay the foundations of a new roadmap. A framework will be built around four key areas. First, consolidation of a peaceful social climate by strengthening human development programs while activating spaces of social mediation. Second, the IRES recommends improving the governance of public policies and ensuring the consistency of sectarial strategies. Third, economically, the priority is to meet the challenge of competitiveness, while maintaining macroeconomic balance. Finally, cooperation at the regional level, especially with EU, is recommended to face the effects of the crisis.