Les-Rencontres-Africa_ASMEX

Morocco’s new 2020 budget puts social services at core of priorities – Minister

The coronavirus outbreak has caused a surge in spending and a drop in revenues for state coffers pushing the government to review the targets and spending schemes under the 2020 budget while maintaining priority for social spending. The administration has adopted austerity measures to reduce unnecessary spending saving some $200 million that was scheduled for […]

Moody’s confirms improvement of Morocco’s financial outlook to stable

Credit rating agency Moody’s affirmed Morocco’s outlook to stable from negative while it maintained its long-term issuer at BA1. Moody’s noted the recovery of Morocco’s real GDP to levels backed by solid crisis management capacities by the government during the pandemic, the agency said in a statement. “The improved governance track record underpins Moody’s expectation […]

Can Jomaa’s Caretaker Government Deliver Economic Reform?

When Mehdi Jomaa assumed the role of Tunisia’s interim Prime Minister in late January, he did not know how disastrous the true economic condition of his country was. He admitted it roughly a month later during a televised interview by saying that the hole in the budget deficit was about 4 billion dinars (2.5 billion […]