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Index of Economic Freedom gives Morocco the 1st place in NA

Morocco ranks 75th in the world and 6th in the Middle East and North Africa (MENA) region in the Index of Economic Freedom of 2019, published by The Heritage Foundation and The Wall Street Journal, a research center based in the United States, one point more than last year.

Morocco ranked 62th out of 100 points, ranking first in North Africa (NA), Tunisia ranked 10th in the Arab Maghreb, Algeria ranked 14th in the third Arab Maghreb, while the eastern neighbor ranked in the lowest position (171 out of 186).

Morocco’s 2019 ranking has been achieved thanks to improved financial position and property rights, judicial efficiency, and free trade and freedom of trade indicators, low labor costs and proximity to Europe have helped Morocco build a diversified, towards the market.

“The Moroccan government is continuing to take additional measures to strengthen the financial situation and thus contribute to raising the rate of growth and improving the competitiveness of the private sector by strengthening public finances and adopting a more flexible dirham exchange rate regime,” the American Foundation said.

“A large part of the labor force is still marginalized by rigid labor laws,” The Heritage said. “The government has yet to face long-term challenges that require deeper reforms, especially with regard to ensuring the rule of law equally.”

On the global level, Hong Kong came first, followed by Singapore and New Zealand, while Switzerland ranked fourth, followed by Australia, Ireland, the United Kingdom, Canada eighth. And ranked ninth in the world returned to the United Arab Emirates.

The index of freedom of competition depends on the rule of law, taxation, regulatory efficiency and market openness. North Korea ranked 180th, Venezuela 179 and Cuba 178.

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