Libya

Social aid to cost Moroccan government 8% of GDP by 2026- minister

Morocco’s spending on social assistance would amount to $9 billion, representing some 8% of the country’s GDP, minister in charge of the Budget Fouzi Lekjaa said. Lekjaa was speaking before MPs explaining the logic behind cutting cooking gas prices, which come after a series of measures aiming to boost purchasing power of poor and middle-class […]

Spain’s Acting PM Hails Morocco’s Role in Curbing Illegal Migrants

 Spanish acting Prime Minister and leader of the Socialist Workers’ Party (PSOE) Pedro Sanchez has praised Morocco’s efforts in combating the illegal migrants’ crossings to Spain, saying the key role played by the North African Kingdom has led to a major drop in the number of arrivals of migrants. “We have succeeded in reducing by […]

Fitch Ratings underscores Morocco’s macroeconomic stability, external liquidity buffers

Despite the coronavirus crisis impact, Morocco maintains macroeconomic stability, low inflation and a relatively comfortable level of foreign exchange reserves that act as external liquidity buffers, Fitch Ratings said. The agency affirmed Morocco’s long-term foreign-currency issuer default rating at ‘BB+’ with a Stable Outlook. Fitch Ratings however expects the government’s budget deficit to stand at […]