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Morocco is considered a developing country. A nation's stage of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Morocco may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries can have a lower life expectancy than citizens of developed countries. Every year, Morocco exports about US$16.78 billion and imports about US$38.66 billion. 9.3% of the country's population is unemployed. The total number of unemployed in Morocco is 3,365,838. In Morocco, 15% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Morocco is quite high, but not a cause for complete concern in terms of investment. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 5.6% of GDP. The country's Gini index is 40.9. Morocco is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite palpable. Morocco has a Human Development Index (HDI) of 0.617. Morocco has an upper middle HDI value. This suggests that the majority of citizens will be able to lead a desirable life, although some citizens will not be able to attain a high standard of living. The Global Peace Index (GPI) for Morocco is 2,002. The Strength Law Index for Morocco is 2. Overall, it is considered rather weak – bankruptcy and collateral laws fail to protect borrowers' and lenders' rights in the event of credit-related complications; Credit information, if any, is scarce and difficult to access.
Currency The currency of Morocco is Moroccan Dirham. The plural form of the word Moroccan dirham is dirhams. The symbol used for this currency is د.م. and is abbreviated as MAD. The Moroccan dirham is divided into centimes; there are 100 in a dirham.
Credit rating The credit rating depth index for Morocco is 6, which means that the information is mostly sufficient and fairly detailed; Accessibility is not a problem. According to the rating agency S&P, Morocco has a credit rating of BBB- and the prospects for this rating are stable. According to the rating agency Fitch, Morocco has a credit rating of BBB- and the prospects for this rating are stable. According to the rating agency Moody's, Morocco has a credit rating score of Ba1 and the prospects for this rating are stable.
Central bank In Morocco, the institution that manages the state's currency, money supply and interest rates is called Bank Al-Maghrib. Locally, the Central Bank of Morocco is called بنك المغرب. The average interest rate on deposits offered by local banks in Morocco is 3.9%.
National debt Morocco's national debt has not yet been calculated.
Tax information Corporate tax in Morocco is 30%. Personal income tax ranges from 0% to 38% depending on your specific situation and income level. VAT in Morocco is 20%.
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