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Morocco - Recent economic developments in Morocco : Evolution economique recente du Maroc (Francês)

This report on the recent economic developments in Morocco stresses that over the entire period 1956-1968, several major problems hampered the country's economic development. The transition to independence resulted in the departure of large numbers of foreign settlers, the loss of entrepreneurial skills and substantial flight of private capital. Problems have also been compounded by a high and accelerating rate of population growth. Migration to the cities raised urban unemployment without tangibly reducing underemployment in rural areas. The educational system was unsuited and slow to react to the needs of development. The long-standing technical and institutional shortcomings of the traditional agriculture sector, added to the departure of skilled foreign farmers created heavy demands and pressures on an unprepared agricultural administration. Development in the rest of the private sector was hesitant and had to be supported by heavy government participation as well as financial and tax incentives. The present report does not attempt to deal with all of these issues. It is concerned only with reporting the principal developments of the most recent years, particularly 1968, and in several instances appraises the present outlook for 1969 and following years. Its main focus is on the fiscal and balance of payments performance and problems, and it also deals briefly with selected developments in some major sectors.

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