Moroccanization (Arabic: مغربة,[1] French: marocanisation) was a Moroccan domestic economic policy enacted by King Hassan II on March 3, 1973, in which major segments of the private sector were transferred to Moroccan ownership.[2][3][4]
The policy had the effect of "transferring to political loyalists and high-ranking military officers state-held assets, agricultural lands, and enterprises that were more than 50 percent foreign owned."[2] Overnight, the portion of industrial enterprises in Morocco that were owned by Moroccans increased from 18% to 55%.[2]
In the following period, from 1973 to 1977, the Moroccan economy grew at a rate of 7.3% annually, financed mainly with foreign loans.[2]
References edit
- ^ "دعوة الحق - جلالة الحسن الثاني مفخرة حماس الشباب". www.habous.gov.ma. Retrieved 2022-03-10.
- ^ a b c d Miller, Susan Gilson (2013). A history of modern Morocco. New York: Cambridge University Press. ISBN 978-1-139-62469-5. OCLC 855022840.
- ^ Bogaert, Koenraad. Imagining the state through social protest : state reformation and the mobilizations of unemployed graduates in Morocco. OCLC 949201978.
- ^ Cherkaoui, Mouna; Ben Ali, Driss (February 2007). "The political economy of growth in Morocco". The Quarterly Review of Economics and Finance. 46 (5): 741–761. doi:10.1016/j.qref.2006.08.003. S2CID 154722827.