AfDB

Ethio-Kenya Power interconnection to power 1 million households

Households in Kenya, Tanzania, Uganda and Ethiopia will have better access to electricity through the construction of the Kenya-Ethiopia electricity interconnection line, Ecofin news agency reported. The interconnection will be ensured by a 1068-km, 500-kilovolt high-voltage direct current transmission line, with 437 km in Ethiopia and 631 km in Kenya with related facilities at Wolayta-Sodo […]

Morocco cuts budget deficit to 6% of GDP in 2021

Thanks to an economic recovery and better tax revenue, the Moroccan government reduced its fiscal deficit to 6% of GDP in 2021 from 7% a year earlier, the finance ministry said. The deficit stood at 70.9 billion dirhams, down from 82.3 billion dirhams in 2020, a year in which Morocco imposed a three-month long lockdown […]

WB: Morocco’s growth to pick up to 3.5% in 2023 & 3.7% in 2024

The World Bank expects Morocco’s economic growth to increase to 3.5 percent in 2023 and 3.7 percent the following year as the country’s agriculture sector recovers gradually from last year’s drought. The spending of the North African Govt. is expected to partially offset weakness in private consumption stemming from high inflation, underlined the WB in […]