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Morocco Real Estate

We offer Morocco real estate investment information for Rabat, Tangier, Ceuta Tetouan, Kenitra, Casablanca, El Jadida, Safi, Agadir and Tarfaya. Scroll down for more information about Morocco.

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About Morocco

Morocco Population: 32,209,101 (July 2004 est.)
Languages: Arabic (official), Berber dialects, French often the language of business, government, and diplomacy.
Capital: Rabat
Government Type: Constitutional Monarchy
Independence Day: 2 March 1956 (from France)
Legal System: Based on Islamic law and French and Spanish civil law system; judicial review of legislative acts in Constitutional Chamber of Supreme Court.
Currency: Moroccan dirham (MAD)

Executive Branch:

Chief of State: King MOHAMED VI (since 30 July 1999).

Head of Government: Prime Minister Driss JETTOU (since 9 October 2002).

American Embassy: 2 Avenue de Mohamed El Fassi, Rabat
Mailing Address: PSC 74, Box 021, APO AE 09718
Telephone: [212] (37) 76 22 65 FAX: [212] (37) 76 56 61

General Overview: Morocco's long struggle for independence from France ended in 1956. The internationalized city of Tangier was turned over to the new country that same year. Morocco virtually annexed Western Sahara during the late 1970s, but final resolution on the status of the territory remains unresolved. Gradual political reforms in the 1990s resulted in the establishment of a bicameral legislature in 1997. Parliamentary elections were held for the second time in September 2002 and municipal elections were held in September 2003.

Economic 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. Despite structural adjustment programs supported by the IMF, the World Bank, and the Paris Club, the dirham is only fully convertible for current account transactions. Reforms of the financial sector are being contemplated. Droughts depressed activity in the key agricultural sector and contributed to a stagnant economy in 2002. Morocco reported large foreign exchange inflows from the sale of a mobile telephone license, and partial privatization of the state-owned telecommunications company and the state tobacco company. Favorable rainfall in 2003 led to a growth of 6%. Formidable long-term challenges include: preparing the economy for freer trade with the EU and US, improving education, and attracting foreign investment to boost living standards and job prospects for Morocco's youth.

International Disputes: Claims and administers Western Sahara whose sovereignty remains unresolved - UN-administered cease-fire has remained in effect since September 1991, but attempts to hold a referendum have failed and parties thus far have rejected all brokered proposals; Polisario, Algeria, and European supporters agree to the latest US-brokered UN proposals for limited temporary autonomy for 4-5 years followed by a referendum on independence, but Morocco's final response is pending; Morocco protests Spain's control over the coastal enclaves of Ceuta, Melilla, and Penon de Velez de la Gomera, the islands of Penon de Alhucemas and Islas Chafarinas, and surrounding waters; Morocco also rejected Spain's unilateral designation of a median line from the Canary Islands in 2002 to set limits to undersea resource exploration and refugee interdiction, but agreed in 2003 to discuss a comprehensive maritime delimitation; Morocco serves as the primary launching area of illegal migration into Spain from North Africa.

Morocco Map

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