First Independent Mena Newspaper
The draft budget for 2025 provides for an array of measures to curb the impact of imported inflation on the citizens’ purchasing power, including wage hikes, cancelation of VAT and customs duties on some basic foodstuff, and subsidies. Under the new budget, monthly salaries lower than 6000 will be exempted from the income tax, while […]
One billion dollars has been raised for Lebanon and its army at the International Conference in Support of Lebanon’s People and Sovereignty held in Paris, French diplomacy announced on Thursday. “In the face of the war’s toll, participants responded to the United Nations’ appeal and announced $1 billion in aid, including $800 million in humanitarian […]
The ongoing Gaza conflict has severely affected Egypt’s economy, leading to a sharp 70 percent drop in Suez Canal revenues Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), said. In an interview with Youm7, Georgieva acknowledged Egypt’s commitment to advancing crucial economic reforms despite the challenges posed by regional instability. Georgieva announced plans […]
The International Finance Corporation has announced a $37 million investment in Morocco’s logistics service provider BLS to support the company’s growth strategy and strengthen Morocco’s position as a regional logistics and trade hub. The IFC funding will help BLS finance its expansion plans, which include creating an estimated 500 new jobs by 2030 through the […]
The Moroccan government increased the budget allocated for defense to 133 billion dirhams ($13.5 bln) as it prepares to promote defense industries and upgrade equipment, as shown in the draft budget for 2025. This year, Morocco’s defense budget was at 124 billion dirhams, highlighting the country’s efforts to modernize its army with state-of-the art technologies. […]
Turkey is diversifying its African partners, moving from east Africa to the Sahel and Niger in particular where Ankara sees mining opportunities. In this respect, Turkey signed a deal to cooperate in the mining sector in the covered uranium-rich but unstable Sahel country. Turkey and Niger signed a provisional pact to boost cooperation in mining, […]
The Finnish multinational telecommunications and information technology corporation has inaigurated its first innovation center in Africa and the Middle East, in Salé, Rabat’s twin city. The innovation center is equipped with advanced technologies spanning over fixed, IP and optical networks from Nokia’s entire portfolio of network infrastructure. This infrastructure has been tested and developed by […]
As Morocco prepares for the upcoming Moroccan Economic Week in Nouakchott this December, both Morocco and Mauritania have reaffirmed their shared dedication to enhancing cooperation across various sectors, aiming to promote regional stability and security. The second edition of the Moroccan Economic and Cultural Week is scheduled to take place in Mauritania’s capital, Nouakchott, from […]
Morocco’s 2025 budget has allocated 340 billion dirhams ($34.5 bln) to public investments, up 1.5% from last year. The investments would focus on key sectors such as renewable energies, telecommunications, housing, farming, electricity, water, phosphates, roads, and transports, according to the draft budget. The 2025 assumes a 4.6% growth rate in 2025, up from 3.3% […]
The Executive Board of the International Monetary Fund (IMF) has announced a preliminary agreement to provide financial support to Tanzania and Mauritania, totaling approximately $428.15 million, to help both countries pursue crucial economic reforms. For Mauritania, the IMF will disburse around $39.7 million through the Resilience and Sustainability Facility (RSF), alongside an additional $8.6 million […]