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Morocco's Economy Progresses Over the Past 15 Years
Contact: Drawi, 202-578-2014
ROCKVILLE, Md., Aug. 1, 2014 /Standard Newswire/ -- Several studies carried by the World Bank have indicated that Morocco's total wealth has increased significantly in recent years, thanks in particular to the substantial growth of its intangible capital.
Intangible capital is one of the latest internationally agreed standards for measuring the total wealth of countries and companies. It refers to constituents of wealth that are not taken into account by conventional financial approaches. In 2005, it was formally adopted by the World Bank as a standard benchmark.
According to estimates of the World Bank, the overall richness of Morocco rose in constant dollars, nearly 75% between 2000 and 2013, an average annual growth rate of 4.4%.
The intangible capital of Morocco grew by nearly 82% between 2000 and 2013, an annual increase of 4.7% per annum. Its share in the national wealth has increased 72.8% in 2000 and to 75.7% in 2013, a period characterized by significant reforms in Morocco and a dynamic investment, which has not failed to consolidate the share of produced capital in national wealth.
The World Bank report entitled "Where is the Wealth of Nations" has deduced that in developed countries, intangible capital is between 66 and 80% of the country's wealth. The intangible capital of Morocco accounted for 78% of total wealth, while neighboring Algeria's for example was -18%. The same study points out that per capita wealth in Morocco was already $22,965 in 2000, significantly better than Algeria with U.S. $18,491 per capita, despite the latter's significant oil and gas production.
Thus, the weight of intangible capital in the aggregate wealth of Morocco is close to that of developed countries. This allows one to conclude that the intellectual capital of Morocco is now the base of wealth creation and that public policies should therefore target the components of intellectual capital to sustain a virtuous circle of economic and social development.
ROCKVILLE, Md., Aug. 1, 2014 /Standard Newswire/ -- Several studies carried by the World Bank have indicated that Morocco's total wealth has increased significantly in recent years, thanks in particular to the substantial growth of its intangible capital.
Intangible capital is one of the latest internationally agreed standards for measuring the total wealth of countries and companies. It refers to constituents of wealth that are not taken into account by conventional financial approaches. In 2005, it was formally adopted by the World Bank as a standard benchmark.
According to estimates of the World Bank, the overall richness of Morocco rose in constant dollars, nearly 75% between 2000 and 2013, an average annual growth rate of 4.4%.
The intangible capital of Morocco grew by nearly 82% between 2000 and 2013, an annual increase of 4.7% per annum. Its share in the national wealth has increased 72.8% in 2000 and to 75.7% in 2013, a period characterized by significant reforms in Morocco and a dynamic investment, which has not failed to consolidate the share of produced capital in national wealth.
The World Bank report entitled "Where is the Wealth of Nations" has deduced that in developed countries, intangible capital is between 66 and 80% of the country's wealth. The intangible capital of Morocco accounted for 78% of total wealth, while neighboring Algeria's for example was -18%. The same study points out that per capita wealth in Morocco was already $22,965 in 2000, significantly better than Algeria with U.S. $18,491 per capita, despite the latter's significant oil and gas production.
Thus, the weight of intangible capital in the aggregate wealth of Morocco is close to that of developed countries. This allows one to conclude that the intellectual capital of Morocco is now the base of wealth creation and that public policies should therefore target the components of intellectual capital to sustain a virtuous circle of economic and social development.
