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News 28 May 2013 2 min read

Opening in Marrakech of the annual meetings of the AfDB: Inclusive growth to the rescue of the continent

The African economy is currently launching into a new, more lively, and more modern dynamic to seize all growth opportunities.
Opening in Marrakech of the annual meetings of the AfDB: Inclusive growth to the rescue of the continent

The future of Africa is being traced from Marrakech. A new roadmap is being put on track to promote the economic potential of the region. The African economy is currently launching into a new, more lively, and more modern dynamic to seize all growth opportunities at a time when the major poles are dancing at a decrescendo rhythm.

Africa is therefore in a position of strength if all efforts converge on its promotion. A strong message was launched on the sidelines of the opening of the proceedings of the 48th annual meeting of the African Development Bank (AfDB), which are taking place until May 31st in Marrakech. Priorities are being unveiled and challenges are arising with a view to accelerating the growth of the continent. Africa, conscious of the fragility of its economic fabric, is showing itself to be more courageous than ever, placing inclusive growth at the centre of its development strategy.

Indeed, a high-performing and promising economy passes first and foremost through the reduction of inequalities. However, in Africa, poverty, wealth inequalities, and low incomes still persist. Despite the good performance of African growth in recent years, with an average of 5.2%, the distribution of benefits has so far been inequitable. Thus, the main objective of the concept of inclusive growth is to extend the benefits to all populations. In this regard, the AfDB is developing a new index to measure growth qualitatively. Based around 4 dimensions, the new measure aims to capture inclusion opportunities while focusing on variants of productive employment, resource redistribution, as well as women's participation in the labour market. Immediately after the announcement of this index, an awareness manifested itself.

Morocco, which sees itself targeted by this ranking, is confident in its ascent on the ranking scale. Taking into account the adoption of the new Constitution, national experts are counting on the improvement of Morocco's index in this African benchmark. The question of "inclusivity" in Morocco has always been at the centre of the reflections of Moroccan decision-makers. The double diversification that Morocco enjoys fuels a solid debate to give momentum to the growth of the national economy. Growth that is being strengthened not only at the sectoral level with the launch of innovative trades but also at the spatial level, notably with the emergence of new growth poles, namely Tangier-Tetouan, Marrakech-Tensift-Al Haouz, and the Moroccan South.

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