Morocco is moving towards reducing dependence on the European market by diversifying markets and maximizing its exports in a context characterized by a structural trade deficit. In this context, exports jumped last year to $ 31.3 billion, according to the Government Exchange Office, while the Ministry of Industry and Trade estimates the untapped potential for export at about $ 10 billion, which requires local Moroccan companies working in the field of industry to provide products that allow the opening of new markets with the support of the state.
The IMF has been calling on the Kingdom to continue the process of floating the dirham in order to support export competitiveness. However, the Governor of the Central Bank, Abdul Latif Al-Jawahiri, has stressed on several occasions that the economic uncertainty at home and abroad does not help to move to a new stage in expanding the softening of the local currency exchange rate (giving it flexibility against foreign currencies).
Source (Al-Araby Al-Jadeed Newspaper, Edited)
