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Morocco Property Investment Specialist

Morocco Property Specialist


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While the world declines Morocco continues growth

Morocco’s economy is likely to grow by 6.6 percent in the first quarter, according to government figures recently released. This good news comes on the back of an IMF report highlighting Morocco’s impressive economic performance in 2008.


The International Monetary Fund stated that due to the sound financial sector in the country it was well placed to continue its progress.   The exchange rate peg (Dirham to euro and dollar), according to the IMF, has served as an anchor of macro-economic stability, and its level appears broadly in line with fundamentals required to maintain economic performance.
Indeed, the Moroccan banks are now generally well-provisioned and have little in the way of foreign exposure on either the asset or the liability side, minimizing the transmission of risks from global financial markets to the real economy, and making the banking system resilient to shocks. Moroccan banks are not exposed to the kind of products at the heart of the subprime crisis and are in a strong position after years of improving results. Whilst the central Bank Al-Maghrib (now autonomous from government) works to control money supply and credit and so also plays a crucial role in controlling inflation.

Morocco and France sign $790m agreement for TGV project

Nov 2008 – Morocco and France signed a $792m protocol to finance the rolling stock and railway equipments of Casablanca-Tangier high-speed train (TGV).


The agreement was signed by Moroccan minister of Economy and Finance, Salaheddine Mezouar and French Secretary of State for Foreign Trade, Anne-Marie Idrac.

The original Protocol of Understanding on the TGV between Casablanca and Tangier was signed in Marrakech in October 2007, under the chairmanship of King Mohammed VI and French President Nicolas Sarkozy and is part of a country wide plan to link all the major cities with high speed links.

The TGV project, which provides for the construction of a high-speed line (from 200 to 320 km/hour), will reduce travel time between Tangier and Casablanca to 2 hours and 10 minutes instead of current 5 hours and 45 minutes.

This is great news for Tangiers property investors as a high speed link between the country’s two major business hubs will undoubtly have an upward effect on prices in the northern city of Tangier.