Diplomatic representation in the US: Ambassador Abdullah MAAROUFI consulate(s) general: 7982 chancery: 1601 21st Street NW, Washington, DC 20009
Diplomatic representation from the US: chief of mission: Ambassador
Ms. Margaret TUTWILER (since 11 Jul.
2 Avenue de Mohamed El Fassi, Rabat mailing address: (37) 76 56 61
consulate(s) general: Casablanca
Flag description: red with a green pentacle (five-pointed, linear star) known as Solomon's seal in the center of the flag; green is the traditional color of Islam
Economy Morocco
Economy - overview: Morocco faces the problems typical of developing countries - restraining government spending, reducing constraints on private activity and foreign trade, and achieving sustainable economic growth. Following structural adjustment programs supported by the IMF, World Bank, and the Paris Club, the dirham is now fully convertible for current account transactions, and reforms of the financial sector have been implemented. Droughts depressed activity in the key agricultural sector and contributed to a stagnant economy in 1999 and 2000. During that time, however, Morocco reported large foreign exchange inflows from the sale of a mobile telephone license and partial privatization of the state-owned telecommunications company. Favorable rainfall in 2001 led to a growth of 5%. Formidable long-term challenges include: servicing the external debt; preparing the economy for freer trade with the EU; and improving education and attracting foreign investment to boost living standards and job prospects for Morocco's youth.
GDP: purchasing power parity - $112 billion (2001 est.)
GDP - real growth rate: 5% (2001 est.)
GDP - per capita: purchasing power parity - $3,700 (2001 est.)
GDP - composition by sector: agriculture: 15% industry: 33% services: 52% (2000 est.)
Population below poverty line: 19% (1999 est.)