Sustainable Economic Growth: Key to Tackling Employment Challenges in Morocco, Says Central Bank Governor

In a press conference held yesterday, Abdellatif Jouahri, Governor of Bank Al-Maghrib, emphasized that sustainable economic growth is the optimal solution to address employment challenges in Morocco. He highlighted that growth in non-agricultural sectors is progressing positively, creating new job opportunities and contributing significantly to improving the country’s economic conditions.

During the conference, Jouahri referred to data presented by the High Commissioner for Planning, noting significant advancements in industrial and service sectors. He stressed the importance of focusing on these sectors to bolster national economic growth. Jouahri underscored the need to promote industries such as tourism and trade, which have shown notable increases in job creation, particularly in the third quarter of 2024.

Regarding youth employment, Jouahri pointed out that the unemployment rate among the 16-24 age group remains high, requiring greater efforts to create job opportunities for this vital demographic. He also mentioned that the economic situation in Europe could affect external demand, presenting new challenges for economic growth.

Jouahri highlighted that solutions adopted by some countries, including Morocco’s past experiences, were insufficient, calling for more effective measures to ensure sustainable growth and comprehensive development. He emphasized that the private sector must play a significant role in driving economic progress, citing the importance of continued collaboration between public and private sectors to achieve shared objectives.

In conclusion, the Governor stressed that solutions based on sustainable economic growth and increased productivity are the best path to improving employment conditions in Morocco. He noted that investments in productive sectors and the expansion of economic opportunities would have a long-term positive impact on the national economy.

source : fesnews media

About Mansouri abdelkader