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Morocco: Central Bank raises rates to 2.5 % & expects growth to reach 3pc in 2023

Morocco’s central bank has decided to raise its key rate by 50 basis points to 2.5pc due to inflation upward trends and external pressures that spread to non-tradable goods and services and to the implementation of the subsidy system reform starting 2024. During last quarterly meeting held Tuesday in Rabat, the Board of Bank Al-Maghrib […]

Phosphates: Morocco’s OCP group reports $ 1.7 billion earning in 1st Quarter 2023

Morocco’s state-owned phosphate company OCP has reported $1.78 billion in first quarter of 2023 against $2.6 billion earned in the same period last year. Yet, this year’s results show the resilience of the global leader in the fertilizer industry in challenging market conditions, says the company in a press release. Global fertilizer prices continued to […]

Gaza: UN, Palestinians laud Moroccan King’s generosity

The United Nations has lauded the “generosity” of King Mohammed VI, Chairman of the Al-Quds Committee, following the dispatch of “significant” additional humanitarian aid to the people of Gaza. “We commend the generosity and decision of HM King Mohammed VI to send significant humanitarian aid to the people of Gaza,” Stéphane Dujarric, spokesperson for the […]