IMF Gives Morocco Positive Review

In its latest report on the growth prospects for the global economy in 2012, the World Bank forecasts a rate of 4 percent for Morocco during 2012 and 4.2 percent for following year, 2013.

The growth rate forecast by the World Bank for other countries in the region is lower, 2.5 percent for Tunisia and 2.7 percent for Algeria.  The growth forecast for North Africa as a bloc for 2012 is set at 2.3 percent.

The World Bank estimates that GDP growth in the MENA region as a whole was 1.7 percent for 2011 due to political instability, and 3.6 percent for 2010.

Clean Energy

On the other hand, the World Bank Vice President for the Middle East and North Africa (MENA), Inger Andersen, applaud Morocco’s leadership in clean energy, noting especially the central solar concentration project, Ouarzazate.

“We are very interested in the role of Morocco.  It is the first country in the region that has taken the lead in the field of concentrating solar power (CSP),” Andersen noted in a presentation on ‘Reform in the energy sector and economic development in the Arab world’ at a conference organized at the headquarters of the Woodrow Wilson Center think tank in Washington, DC.

“We hope other countries follow the example of Morocco,” said the head of World Bank, referring to loans totaling $297 million to assist the kingdom to finance the Ouarzazate solar power plant project – ‘the door of the desert’, a city in south of the country.

0 0
Article Categories:
North Africa

Leave a Reply

Your email address will not be published. Required fields are marked *