Moroccan Analysis

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Morocco
Morocco is a unique country, growing and growing at accelerating rates and increasing economic growth everyday. All sectors of the county’s financials, economies, and likewise seem to be flourishing with little to change. Due to the monarchy and strict restrictions on writing anything bad about the kingdom, the country seems to be on paper a fantastic place to live with a population, government, and king all aiming to bring the country up to its highest potential. The one fault however is the educational sector which completely takes you into a different view of the unemployment rate, educational level, and job sector than ever before. With focusing on the economic development of the country you find that every sector has been making
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The country has made significant increases and improvements in almost all areas of economic freedom, political freedom, GDP, growth rate, employment rate, and much more in the financial sectors. They were one of the few countries during the European recession that completely stayed afloat and was almost unaffected by the situation at hand. The GDP in 2012 did drop from 5% to 3% but has already made a rebound. Morocco’s financial sector is large in size and accounts for about 110% of GDP (Financial Sector Profile). The financial sector was challenged during the European economic crisis but was proven to be strong enough to not crumble or fall at all. The central bank Bank-al-Maghrib, decided to take further cautionary precautions and strengthen it even more. The bank strengthened the regulation and supervision and put it in line and towards the direction of the new international standards (Financial Sector Profile). The banking sector like mentioned earlier is very large. With the three largest banks making up for about two-thirds of the sector, there are about 19 banks with over 5,000 branches across the country (Financial Sector Profile). The banking sector has also decided to take advantage of the newest technologies and start to modernize. All of their payment systems are now paperless and allow for the use of mobile banking (Financial Sector Profile). Morocco also has the second largest insurance market in the continent which is something to be proud of and it has only continued to grow. There are a total of 17 insurance companies that compromise for 53% of the market (Financial Sector

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