Morocco insulated from the global economic turmoil
Global economic crises such as the credit crunch are not affecting Moroccan housing market, a media report has revealed.
According to Ahmad Al-Ameer, vice-chairman and CEO of Kuwaiti Gulf Holding Company (GHC), the gloomy financial outlook is not putting investors off entering the Moroccan market. The North African country is continuing to attract a high level of interest from investors in places such as the UK. This is despite the fact that many Brits are currently struggling to muddle through with a number of economic problems, such as increasing living and fuel costs, as well as the worldwide credit crunch.
Mr Al-Ameer said he expected the Moroccan economy to grow by six per cent in 2008 in the upcoming year, which could be good news for people looking to invest in property in the nation. Economy and Finance Minister Salaheddine Mezouar told that Inflation will be kept below 2%; overall economic growth will be 6.8%.
In related news, property showrooms.com has stated that Property in Morocco is currently a highly lucrative investment option in selected locations and government initiatives are effectively improving the infrastructure and economy to generate an exciting new emerging market.
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[...] The minister added that due to the success of property investment, Moroccan economy is now non-dependent on the agriculture sector. He noted that the country’s dynamics are strong and that the growth rate remained steady despite other nations struggling to cope with the global economic problems. [...]
[...] tourism is doing well in spite of the global economic turmoil as Eight million tourists visited the country in 2008, a 7% growth compared to 2007, it has been [...]