Morocco’s overall solid economic performance has been challenged by the deterioration of the situation in Europe, high oil and food prices and, in 2012, lower-than-average agriculture production, heightening pressures on the public and external accounts. Looking ahead, external pressures are not expected to abate and risks are tilted to the downside. In this context, sustained implementation of the authorities’ economic agenda will be crucial to preserving Morocco’s performance and making further progress toward higher and more inclusive growth.

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