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Stocktaking Report: Morocco Deauville Partnership Compact for Economic Governance Stocktaking Report: Morocco Progress with economic governance reforms November 2017 With the support of : Acknowledgements This report falls within the framework of the country-level implementation of the Compact for Economic Governance adopted by the members of the Deauville Partnership. This report has been prepared by the OECD with the support of the German Foreign Office, in close consultation with the Moroccan authorities and in co-operation with the Deauville Partnership’s International Financial Institutions. The preparation of this report has been co-ordinated by the G20/G7 Sherpa Office and Global Governance Unit within the Cabinet of the Secretary-General of the OECD, under the strategic direction of Gabriela Ramos, Special Counsellor and Sherpa and under the responsibility of Nicolas Pinaud, Head of the Sherpa Office. It has been drafted by Abdelkader El Ghrib, Consultant, under the supervision of d’Anton Leis Garcia, Policy Analyst, and with the collaboration of Fatima Talidi, Junior Policy Analyst. The draft has benefited from the contributions from OECD Directorates. The input from the Moroccan authorities has been coordinated by the Ministry of General Affairs and Governace, under the direction of Minister Lahcen Daoudi and Secretary General Aziz Ajbilou. A number of Moroccan stakeholders have contributed information, data, documents and comments that have enriched the report. Those include the Prime Minister’s Office; the National Committee for the Business Environment (CNEA); the Bank Al-Maghrib; the Economic, Social and Environmental Council; the Planning High Commission; the Ministry of Economy and Finance, the Ministry of Industry, Investment, Commerce and the Digital Economy; the Ministry of labour and Professional Integration; the Ministry of Education, Professional Training, Tertiary Education and Scientific Research; the Ministry for Administrative Reform and Public Service; the Ministry of Infrastructure, Transport and Logistics; the Ministry of Justice and Liberties; the Ministry of Parliament and Civil Society Relations; the Ministry of Interior; the Ministry of Foreign Affairs and International Cooperation. *** This work has been prepared under the responsibility of the Secretary-General of the OECD. The opinions expressed and arguments employed herein do not necessarily reflect the official views of OECD member countries. *** This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. 1 2 Table of Contents Acknowledgements ................................................................................................................................................ 1 List of Tables .......................................................................................................................................................... 4 List of Figures ......................................................................................................................................................... 4 Acronyms ............................................................................................................................................................... 6 Executive Summary ................................................................................................................................................ 9 Compact for Economic Governance: Morocco Indicator Dashboard ..................................................................... 13 Overview of the Moroccan Economy ................................................................................................................... 19 PILLAR I: DESIGNING SOUND ECONOMIC POLICIES FOR AN INCLUSIVE AND SUSTAINABLE MARKET ECONOMY .. 24 A. Strengthening growth dynamics and productivity gains in order to speed up the process of economic catch-up ..................................................................................................................................................................... 25 B. Accelerating work on key projects and reallocating the factors of production toward sectors with greater value added, in order to bring growth up to its potential level ................................................................................ 31 C. Promoting more equitable and inclusive growth ........................................................................................... 34 PILLAR II: ENHANCING THE TRANSPARENCY AND EFFICIENCY OF PUBLIC INSTITUTIONS AND PROCESSES ........... 40 A. Making public strategies and policies consistent and co-ordinating their implementation for greater convergence and effectiveness ..................................................................................................................... 40 B. Reforming public sector governance for greater transparency, effectiveness, quality public services make the public sector more effective.......................................................................................................................... 43 C. Reforming the public financial management to free up fiscal space in favour of economic effectiveness and social inclusion ............................................................................................................................................. 52 PILLAR III. BUILDING AN ATTRACTIVE ENVIRONMENT FOR INVESTMENT AND PRIVATE SECTOR DEVELOPMENT 65 A. Address constraints to private sector development to expand business opportunities and exploit the potential for growth .................................................................................................................................................... 65 B. Developing a modern and competitive industrial base for economic emergence ........................................... 68 C. Promoting SME development to move them up the value chains .................................................................. 72 D. Upgrading human capital to make it the cornerstone of competitiveness and inclusion ................................. 76 E. Modernising the financial sector so strengthen its intermediation role and promote financial inclusion ........ 84 PILLAR IV. INVOLVING THE PUBLIC AND CIVIL SOCIETY AND THE BUSINESS COMMUNITY IN DECISION-MAKING 91 A. Promoting the involvement of civil society and citizens in decision-making ................................................... 91 B. Deepening and systematising public-private dialogue to give effect to participatory democracy and promote inclusion ....................................................................................................................................................... 95 C. Promoting women's empowerment and the participation of women and youth ............................................ 99 Annex I: Morocco Compact Implementation Plan .............................................................................................. 103 Annex II: The Compact for Economic Governance: Technical Aspects and Methodology .................................... 105 Annex III: Compact for Economic Governance Indicator Scoreboard .................................................................. 109 List of References ............................................................................................................................................... 113 3 List of Tables Table 1: Principal indicators for Morocco ................................................................................................. 19 Table 2: Principal strategies and sector plans adopted by Morocco ....................................................... 41 Table 3: Corruption Perceptions Index ..................................................................................................... 49 Table 4: Quantified objectives of the National Anti-corruption Strategy: ............................................... 51 Table 5: Planned implementation of the National Anti-corruption Strategy........................................... 52 Table 6: Selected PEI financial indicators, 2011-2015 .............................................................................. 55 Table 7: Structure of PEI investments by category, 2011-2016 .............................................................. 55 Table 8: Net financial flows from the government to PEI by cateogry, 2011-2016 ................................. 56 Table 9: Structure of tax revenues in Morocco (2016, % of GDP) ............................................................ 61 Table 10: Corporation tax rates ................................................................................................................ 62 Table 11: Net job creation by sector between 2011 and 2016 ................................................................ 80 Table 12: Monetary policy decisions, 2011-2016 ..................................................................................... 86 Table 13: Morocco's ranking in terms of female representation in Parliament (First chamber) ............ 99 List of Figures Figure 1: Real GDP (percentage change) 2000-2017 ................................................................................ 20 Figure 2: Investment rates, 2011 and 2016 (% GDP) ............................................................................... 21 Figure 3: Rate of participation in economic activity in
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