In its latest issue of the Economic Monitor for fall 2023, devoted to Morocco and made public at the end of last week, the World Bank highlights two major facts that it summarizes in a single expression: from resilience to shared prosperity. The first observation recalled, because today widely accepted, and duly demonstrated by the indicators: the remarkable resilience demonstrated by the Moroccan economy in recent years and precisely since the chain of cycles of bad economic conditions with the pandemic which paralyzed the world economy for months, the surge in world commodity prices which generated a global inflationary wave then the advent of armed conflict in Eastern Europe, all against the backdrop of a prolonged cycle of droughts and, finally, a natural disaster, namely the destructive Al Haouz earthquake. Resistance to such a chaotic surge was not acquired and many countries, including among the strongest, would have left feathers. Now, and this is the second observation, or rather recommendation of the World Bank, for the sustainability of the model, Morocco must imperatively go beyond resilience by transforming the test to move towards “shared prosperity”. In other words, the solidity of fundamentals and good health at the macroeconomic level must be felt at the level of microeconomic actors, mainly households but also businesses. The absence, or at least the weakness, of the transmission belts between the two floors has always intrigued Moroccan economists.
