Modern Issues
Under Mohammed VI, the economy of Morocco has been fairly stable. There has been slow and steady growth in the economy and decreasing rates of unemployment. The Moroccan economy consolidated its growth in 2013 with GDP rising 4.7% compared to 2.7% in 2012, despite the slowdown in world growth. This was due to a vibrant agricultural sector, in particular, with non agricultural activities somewhat less dynamic, compared to 2012. As of the 20th century, improvements made by the French helped improve Morocco's economy during 1917 and 1919. The Algeciras conference gave concessions to the European bankers, ranging from a newly formed State Bank of Morocco, to issuing banknotes backed by gold, with a 40-year term. The new state bank was to act as Morocco's Central Bank, but with a strict cap on the spending of the Sherifian Empire, with administrators appointed by the national banks that guaranteed the loans.
Now, Morocco's economy is in charge of providing a big percentage of the world's phosphate production as well as exporting other natural resources to some countries. Morocco also is the largest exporter of phosphate and the third largest producer of the resource, giving them a morale boost as well as playing a major role in their economic success.
Now, Morocco's economy is in charge of providing a big percentage of the world's phosphate production as well as exporting other natural resources to some countries. Morocco also is the largest exporter of phosphate and the third largest producer of the resource, giving them a morale boost as well as playing a major role in their economic success.