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Government spending accounts for fully half of the service economy, despite an ongoing effort on the part of the government to sell much of its assets to private concerns. Since the mid-1980s tourism and associated services have been an increasingly significant sector of the Moroccan economy and by the late 1990s had become Morocco's largest ...
US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador El Salvador Marshall Islands Micronesia Palau Panama Timor-Leste Andorra Monaco San Marino Vatican City Kosovo Montenegro Kiribati Nauru Tuvalu; Currency board (11) Djibouti Hong Kong ; ECCU Antigua and Barbuda Dominica
Morocco has close and long standing ties with the United States. Morocco was the first nation to recognize the fledgling United States as an independent nation. [195] In the beginning of the American Revolution, American merchant ships were subject to attack by the Barbary Pirates while sailing the Atlantic Ocean. At this time, American envoys ...
The euro is a major global reserve currency, the second most widely held international reserve currency after the U.S. dollar. [59] Inheriting this status from the German mark , its share of international reserves has risen from 23.65% in 2002 to a peak of 27.66% in 2009 before declining due to the European debt crisis , with Russia and Eastern ...
Since 2000 Morocco and the EU have signed many bilateral agreements. Various agreements of free trade that Morocco ratified with its principal economic partners like the Euro-Mediterranean free trade area agreement. The two sides recently announced plans to extend their Free Trade Agreement to cover not only goods, but also agriculture and ...
Morocco joined the IMF on April 15, 1958. [1] Morocco's Special Drawing Rights (SDR) currently stand at 542.36 million. Their quota holdings are currently worth 894 SDR million. 85.53% of those are part of the IMF's Holdings of Currency or in other words 747.13 SDR millions while the remaining 16.47% is the Reserve Tranche Position or 147.35 SDR millions.
This article lists countries alphabetically, with total government expenditure as percentage of Gross domestic product (GDP) for the listed countries. Also stated is the government revenue and net lending/borrowing of the government as percentage of GDP. All Data is based on the World Economic Outlook Databook of the International Monetary Fund.
The exchange rate of the Moroccan dirham is determined within a band of fluctuation of ± 5 percent compared to a central rate established by the central bank of Morocco on the basis of a currency basket composed of the euro and United States dollar by up to 60% and 40% respectively. [2] [3]