The Moroccan economy hit hard by the global crisis
A fter tended for months, to deny or minimize the effects of international economic and financial crisis on the kingdom, Rabat admits that the crisis is there, and "tougher than expected." Despite the establishment in February, an "intelligence committee" to assist the most affected sectors - tourism, remittances from Moroccans living abroad (MRE) and exports -, macroeconomic indicators are downward. Friday, June 19, the resort's pilot "Plan Azur", dedicated to tourism, will be inaugurated in Saidia on the Mediterranean. An important symbolic date.
The government will succeed there to keep her bet to attract "10 million tourists per year from 2010"? The industry is going through turbulence. Several projects have been delayed, especially in Taghazout, on the Atlantic, due to the withdrawal of investors.
Tourism Minister, Mr Boussaid says that "there is no crisis," the number of arrivals at airports is increasing. It is true that the industry is resisting rather well. But the recipes, they mark an 20% drop from 2008, with the proliferation of "packages", shorter lengths of stay and spending of tourists down.
Hit by unemployment in their host country, or fearful of being laid off, 3.2 million Moroccans living abroad send less in the world currency in their native country - 15% in the first quarter of 2009. This trend is likely to continue throughout the year, despite the battery of measures taken by the government in early June (including free transfer of funds). But it is in terms of exports and the situation is most worrying. Textiles, electronic components, automotive suppliers, phosphates ... orders fall, some drastically. In Salé, near Rabat, textile companies are affected, almost all being linked to Britain, itself hit hard. The region of Fez tour to France and Spain, fared less badly, at least companies that have anticipated the crisis, diversified their products, and agreed to have only fifteen days of visibility in the controls, instead of one and a half months.
This is the case of Madani Ghorfi, group president of Clothe textile industries, which employs 1,500 people. Its sales fell by only 5% and it has laid off anyone, but it decreases the number of hours worked by employees, piecemeal, according to its order book. This contractor, also vice president of the Moroccan Association of Textile and Clothing (Amith) for the region of Fez, estimated about 20,000 the number of textile workers laid off since the crisis began ( 10% of total). Added to this are those - numerous - who lost their jobs but are not counted as working in the informal sector.
In food, the situation is not brilliant but again, it's all about "niche", size and corporate governance. The Fez region is world champion for the production and export of capers. Driss Guessous, Urcimar director and president of the Federation of Industries of canned food for the northern region of Morocco, now sees its exports drop by 25% capers. As for his canned olives, they fell by 50%, cost of production in 2007-2008 was very high because of a disastrous crop. Result: Moroccan olives stocks, 25% more expensive than Spanish, are impossible to sell.
"The competitiveness of our products is being challenged," says, in Rabat, Ahmed Lahlimi Alami, High Commissioner for Planning, not hiding his concern at the deterioration in external trade and the balance of payments for the third consecutive year . "The year 2010 may be more difficult than 2009, because we will not have exceptional farm receipts this year. That's when we really feel the crisis! , "He admits.
The government could he anticipate instead of "filling in the gaps piecemeal" with three or six months late, under pressure from professional associations, as in many industrial accuse?
The anxiety is palpable. "Morocco undergoes a shift of at least one year with Europe and the United States with which it is closely linked economically. The crisis will continue until 2012, but our officials do not want to admit to not panic people, said Lahcen Daoudi, a professor of economics at the University of Rabat, and number two in the ruling Justice and Development (PJD, Islamist). The worst is yet to come. "
