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Morocco’s Central Bank expects economy to shrink -5.2%, cuts rates to release liquidity

Morocco’s central bank cut the key interest rate from 2% to 1.5% to shore up the economy and reduced the reserve requirement for banks to 0% to release more liquidity. The Bank revised downwards its forecasts for 2020 to -5.2%, the lowest rate since 1996, compared with 2.5% in 2019, as the coronavirus impact and […]

Morocco to raise wages of private sector employees

Workers in the private sectors will benefit from a 10% wage hike within the next two years, while the minimum salary in the agricultural sector will be raised by 10% starting this month, the government announced on Thursday. The move marks the implementation of social dialogue deals announced last May between the government and major […]

UN Chief offers condolences to Morocco following death of Moroccan Blue Helmet in DRC

The UN Secretary-General, Antonio Guterres, presented his most sincere condolences to Morocco, following the death on Tuesday of a Moroccan soldier belonging to the contingent of the Royal Armed Forces (FAR), deployed in the Republic Democratic Party of Congo part of MONUSCO. A statement by UN spokesman Farhan Haq said the UN Secretary-General “expresses his […]