The World Bank has confirmed that Morocco has the potential to create an additional 1.7 million jobs by the year 2035, as well as increase its real Gross Domestic Product (GDP) by approximately 20% above the baseline level, through the implementation of an ambitious reform program. This assertion was made in a statement released by the Bretton Woods institution, which highlighted two analytical reports developed in close collaboration with the Moroccan government, made public on Tuesday. These reports provide concrete data and a roadmap aimed at ensuring the successful realization of this transformation on the ground.
According to the same source, the reports titled "Growth and Job Creation in Morocco" and "Diagnosis of the Private Sector in Morocco" complement each other in identifying the structural changes necessary for Morocco to transition towards transformative growth. This transition involves linking macroeconomic reforms with private investment opportunities in key sectors of the economy. The World Bank emphasized the need for structural reforms that aim to enhance market competitiveness, liberalize private investment, and more broadly integrate women and youth into the structured economy.
Despite the tangible gains made by the Moroccan economy, the pace of growth has yet to translate into a sufficient number of job opportunities, particularly for women and youth. The institution noted that between 2000 and 2024, the working-age population has increased at a rate 2.5 times faster than employment growth. The growth and employment report offers strategic recommendations centered around four integrated pillars: more effective and competitive markets, more dynamic enterprises, more efficient public investments, and more inclusive labor markets.
The World Bank asserts that these reforms could lead to the creation of 1.7 million additional job opportunities by 2035 and 2.5 million by 2050, alongside an expected increase of nearly 20% in real GDP compared to the baseline, which reflects a practical realization of the ambitions of the new development model. Ahmedou Mustapha Ndiaye, the World Bank’s regional director for the Maghreb and Malta, stated that Morocco has laid solid foundations, and thanks to the recommendations in the growth and job creation report, the kingdom will be capable of going further. This will lead to the creation of millions of jobs, deepening private investment, and opening genuine opportunities for women and youth.
Furthermore, the "Diagnosis of the Private Sector" report identifies medium-term investment opportunities that could serve as a strong lever for private investment in four high-potential sectors. These include decentralized solar energy, low-carbon textile manufacturing, the valorization of argan products in cosmetics, and marine aquaculture. These sectors align with Morocco’s priorities, which focus on green growth, industrial modernization, and regional development.
Sheikh Omar Sylla, the regional director for North Africa and the Horn of Africa at the International Finance Corporation, emphasized that "Morocco possesses strong sectoral fundamentals, along with the necessary reformist will, that qualifies it to attract larger volumes of private investments." He further noted that "the kingdom is now poised to move to a more advanced level of private sector engagement, highlighting practical opportunities that could mobilize private investments equivalent to about 4% of GDP." The joint launch of these reports exemplifies the comprehensive vision adopted by the World Bank in supporting the next phase of Morocco’s development path by linking macroeconomic reforms with viable private sector investment opportunities, thereby transforming strategic ambitions into inclusive growth for all Moroccans.
As reported by lakome2.com.
