First Independent Mena Newspaper
Algeria’s trade deficit slipped into 14 billion dollars in the first 8 months of 2016 because of the fall in oil revenues, propelling the government to draft an austere appropriation bill for 2017 with the introduction of new taxes in a bid to minimize losses. Algeria’s trade deficit worsened despite an 11% decline in imports […]
The 2016 Economic Freedom of the World Report issued by the Canadian Fraser Institute pointed out to the plummeting economic freedom in Algeria, which ranked 151st among 159 surveyed countries. The report measures economic freedom including levels of personal choice, ability to enter markets, security of privately owned property and rule of law. It analyses […]
Morocco’s leading banking group, Attijariwafa bank, has submitted a bid to take over British Barclay’s Egypt branch, a source close to the Moroccan institution told Reuters. The transaction has been estimated at $400 million. Barclay has decided to get rid of its Egypt’s branch as part of structural adjustment policy in a move to generate […]
The regions of Casablanca-Settat and Rabat-Salé-Kénitra continue to drive the Moroccan economy making up 48.3% of Morocco’s GDP in 2014, the Higher Planning Commission (HCP) said. The region of Casablanca-Settat accounted for 32% of Morocco’s GDP followed by Rabat-Salé-Kénitra by 16.3%. Five other regions produced 40.3% of Morocco’s GDP. These regions are Tangier-Tétouan-Al Hoceima (9.4%), […]
The Payroll in the public sector absorbs 49% of state revenues, a percentage that shows the burden placed on the state budget because of an inefficient employment policy, says a study conducted by L’Economiste daily newspaper. The public sector’s payroll is in dire need of restructuring to mitigate its impact on the state budget after […]
The plummeting oil prices propelled Algeria in an economic crisis marked by a sharp decrease in exports and a deepening budget deficit threatening to halt several mega projects in the country, chief among which is Algeria’s mega mosque. In 2011, when global oil prices were at their peak, works started to build the mosque overlooking […]
Efforts and investment policies implemented by Moroccan authorities to make the kingdom one of the first investment destination in Africa are paying off. The Paris-based consulting firm Havas Horizon has ranked, in its latest report, the North African country the third most attractive investment destination for the coming years. The report titled “Financing the African […]
Morocco’s oil and gas imports stood at 29.394 billion dirhams by July 2016 compared to 41.947 billion dirhams the same period last year, which is a significant 30% drop, Morocco’s exchange office said in its latest statistics. Yet, despite the drop in oil prices, Morocco’s commercial deficit deepened 7.5% as imports continue to exceed exports. […]
Nigeria’s President Muhammadu Buhari comment saying that his country has suddenly became a poor country, resounded in Algiers as an alarm bell on the repercussions of the plummeting oil prices. Like Algeria, Nigeria depends on oil whose prices crashed to 37 dollars a barrel, and in the best cases oscillate between 40 dollars and 45 […]
Canadian aviation industry giant, Bombarider is planning the relocation of parts of its production from its factories in Northern Ireland to Morocco and Mexico in a bid to cut costs. Bombardier, which employs around 5,000 staff in Belfast, confirmed the transfer of “certain activities” it said it was “unable to undertake competitively in Northern Ireland”, […]