First Independent Mena Newspaper
The Casablanca tramway company announced on Monday it secured a €100 million loan from the French Development Agency (AFD) for the building of two new lines (T3 & T4) to improve public urban transport in Morocco’s biggest city. The AFD financial support to the expansion of Casablanca Tramway network also includes a €500,000 grant to […]
MPs from the opposition joined their voice to labor unions which lambasted the government for planning to impose a solidarity tax on the salaries of middle class employees. During an examination of the draft budget law in the parliament, MPs deplored that the Middle Class continues to bear the brunt of government policies noting […]
Morocco’s second largest bank, BCP, is said to be planning to allow in a major Asian bank as stakeholder in a bid to diversify its portfolio to Asia, Bloomberg reported. “The sale, which could be enacted through a cash injection, is the linchpin of a five-year strategy starting in 2021 that the Casablanca-based lender plans […]
In accordance with Royal guidance, the government has elaborated a draft budget that provides for special measures to keep jobs, promote youth employment, generalize health insurance and reform civil service. The government, which examined the draft budget in its council, said in a statement that priority is attached to shoring up the economy through offering […]
Moroccan Minister of Economy and Finance Mohamed Benchaâboun highlighted the priorities of Morocco’s economic recovery plan at a virtual conference held Wednesday as part of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank (WB). To help its economy recover from the covid-19 crisis, Morocco adopted a stimulus plan focused on […]
The United Nations Economic Commission for Africa is concerned about the alarming decline in remittances from African Diaspora. With the global economic crisis, these Diasporas are sending less money to their countries of origin. This year, the decline is expected to reach 21% or $18 billion less than in 2019. The anti-poverty organization ONE and […]
The Moroccan government plans an increase in public investments to 230 billion dirhams and an injection of 45 billion dirhams to help the economy recover from the coronavirus pandemic repercussions. The measure was laid down in a draft budget law approved at a ministerial council chaired by King Mohammed VI at the Royal Palace in […]
Governor of Bank Al-Maghrib Abdellatif Jouahri was named among the top ten central bank governors in the world in 2020 for the fourth consecutive year. Jouahri got an “A”, the maximum grade awarded by New York magazine Global Finance in its ranking “Central Banker Report Cards 2020”, bringing together 94 governors of central banks. The […]
German development bank KfW offered a €30 million loan to Morocco’s water and electricity agency (ONEE) to finance water supply projects in rural areas. The new funds will be directed in particular to implement water supply projects in the northern regions of Tangier and Chefchaouen. Some 150 small villages and 112,000 people stand to benefit […]
Morocco has failed once again to get out of the EU’s tax haven grey list, although it took a number of measures and enacted new laws, the most recent of which is the reform of the tax system of the Casablanca Finance city. According to the EU’s updated list released Tuesday October 6, Morocco […]