Sunday, December 13, 2009

Moroccan rhythms

The Moroccan government reports a boom in the informal economy, according to a report in the Middle East North Africa Financial Network.

The statistics are impressive: 40,000 new businesses (and only one in five new businesses is registered with the government.) In 2007, according to the government survey, informal businesses in Morocco created more than 2 million jobs and had a turnover of 279.9 billion Moroccan Dirhams, or about $36 billion US.

In Morocco, the informal sector is growing way faster than the formal.

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