فاس نيوز ميديا جريدة الكترونية جهوية تعنى بشؤون و أخبار جهة فاس مكناس – متجددة على مدار الساعة
Amidst the accelerating global economic transformations, Morocco is steadily adopting an economic diversification strategy aimed at reducing dependence on traditional sectors such as agriculture and phosphates, and enhancing the contribution of emerging sectors like industry, technology, and renewable energy.
A recent report issued by the World Bank confirmed that economic diversification is one of the fundamental pillars for achieving sustainable growth in North African countries. It pointed out that economies reliant on limited sectors are more vulnerable to external shocks, such as fluctuations in commodity prices or climate changes.
In the same context, the International Monetary Fund (IMF) emphasized in its 2024 annual report the importance of moving towards a diversified economy in Morocco, especially in light of the challenges related to climate change and recurring droughts that negatively impact agricultural production, one of the pillars of the national economy.
According to statistics from the High Commission for Planning (HCP), Morocco’s GDP still relies on the agricultural sector by approximately 13%, despite efforts made to develop other sectors. This situation makes the economy vulnerable to seasonal fluctuations and increasing climate risks.
On the other hand, in recent years the Moroccan government has launched a number of ambitious economic programs, most notably the New Investment Charter, which aims to attract new capital toward promising sectors such as manufacturing industries, the digital economy, automotive and aerospace industries, and green energy.
A report by the Organisation for Economic Co-operation and Development (OECD) also indicated that Morocco has great potential in the field of renewable energies, especially solar and wind power, noting that exploiting these resources could contribute to creating new job opportunities and diversifying income sources.
Moroccan economist Dr. Yassine El Aloui believes that “the challenge of economic diversification is not a luxury, but a strategic necessity to ensure the stability of the national economy in light of global changes,” adding that “strengthening infrastructure and improving the business climate are two key factors for the success of this transformation.”
This approach also aligns with the goals of the New Development Model, which called for achieving a more resilient and diversified economy capable of providing job opportunities and meeting the aspirations of Moroccan youth.
Towards a More Diverse and Sustainable Moroccan Economy
The main challenge, according to experts, remains in implementing structural reforms and ensuring the effective application of sectoral strategies, in a way that guarantees a gradual transition towards a multi-source economy that is less prone to shocks and more competitive regionally and internationally.
Source: Fes News Media
