The Heritage Institute’s latest index reveals that Morocco leads North Africa in economic freedom, securing its spot as the region’s freest nation. In its 31st edition, the report assessed 184 countries, noting a modest global freedom increase of 1.1 points but emphasising that much remains ‘not free’. The index, grounded in 12 qualitative and quantitative indicators, investigates government size, rule of law, regulatory efficiency, and market openness.
Morocco received an impressive score of 60.3 out of 100, placing it as Africa’s seventh highest and the only North African country classified as ‘moderately free’. The nation’s significant advancements stem from high marks in investment and financial freedom, among others, with a substantial 3.5-point improvement from 2023. However, it fell short in areas like labour freedom and judicial efficiency.
Beyond merely fostering a conducive business landscape, Morocco’s concerted efforts to draw investment, particularly in its northern regions, and the introduction of the New Investment Charter have substantially bolstered its ranking. Moreover, Morocco shines in global standings, ranked in the Top 50 of the Global Soft Power Index and excelling in automotive exports alongside South Africa.
Comparatively, Morocco far outpaces its neighbours: Mauritania stands at 119th, Egypt at 145th, Tunisia at 149th, and Algeria languishing in 160th with a rank amongst the ‘economically repressive’. Although Algeria performed adequately on some fronts, critical measures like financial freedom remain severely lacking in this restrictive environment, deterring economic potential.
Morocco is ranked as the freest country in North Africa by the Heritage Institute, scoring 60.3 out of 100. The country notably improved its rating in several indicators including investment and financial freedom. Meanwhile, Algeria remains economically repressive, ranking 160th. Morocco’s actions to attract investment and implement new charters underpin its standing as an emerging economic leader in the region.
In summary, Morocco’s position as the frontrunner in North African economic freedom is backed by its improving score and concerted initiatives to attract investment. While areas necessitate improvement, such as labour freedom and judicial effectiveness, the overall trajectory suggests a robust, evolving economy. By comparison, its neighbours showcase significant disparity, particularly Algeria, which struggles under economic repression despite limited successes in other metrics. This landscape underscores Morocco’s unique standing, paving the way for heightened regional influence and investment opportunities.
Original Source: www.atalayar.com
