First Independent Mena Newspaper
Japan is looking to Morocco to foster its food security in a global context marked by a surge in prices of soil nutrients on the back of the supply disruption created by the Russia-Ukraine conflict. Japanese deputy agriculture minister Takebe Arata told the media during his visit to Rabat that his country is seeking larger […]
Morocco’s tourism businesses started to breathe a sigh of relief as the battered sector showed first signs of recovery from the fallout of the pandemic. With 80% in tourism revenue, the future looks promising for the sector backed by a promotional campaign targeting main tourist emitting countries. Speaking to MPs, tourism minister confirmed the recovery […]
The revenues of the Moroccan state-owned phosphate group OCP reached $2.67 billion in the first quarter of 2022, up from $1.59 billion reported the same period last year. The record results achieved by OCP in 2021 have continued in the first quarter of 2022, driven by strong market conditions and operating efficiencies, says the OCP […]
The European Bank for Reconstruction and Development (EBRD) extends Attijari bank Tunisia a $1.6 million loan to enable pharmaceutical company Teriak enhance productivity and improve energy efficiency. The risk-sharing facility will help Teriak purchase new machinery & equipment and to undertake maintenance work at its Jebel Ouest facility. The funding will complement investment by the […]
Morocco and Germany have underlined the strength of their partnership and commended the quality and density of financial and technical cooperation between the two countries, while reaffirming their shared desire to strengthen cooperation in all areas of common interest. This came at a meeting held Monday in Rabat between Minister of Economy and Finance, Nadia […]
Remittance flows to Morocco increased by 40 pc in 2021, reaching $10.4 billion, says the World Bank in its latest “Migration & Development Brief”. With such performance, Morocco becomes the second-largest recipient of remittances in the Middle-East and North Africa region. Indicators for early 2022 suggest a continuation of buoyancy in receipts, says the WB […]
Morocco expects its cereals output to shrink by 70% to 3.2 million tons due to late and unevenly distributed rainfall, putting a strain on the country as it seeks to build stockpiles amid a surge in prices in the international market. The government subsidies soft wheat, the main staple in the country of about […]
Morocco’s OCP Group is set to open a new phosphate fertilizer manufacturing plant in Brazil, announced Brazil’s Agriculture Minister on Twitter earlier this week. The move contributes to the stabilization of the market amid a global shortage in fertilizers and their inputs because of the COVID-19 pandemic, a shortage that was worsened by the conflict […]
The output of major cereals (soft wheat, durum wheat and barley), in the 2021/2022 agricultural campaign is expected to reach 32 million quintals (Mqx), a decrease of 69% compared to the previous campaign, while the agricultural gross domestic product (GDP) is projected to decrease by about 14% in 2022, according to the forecasts of the […]
Fitch Ratings agency has affirmed Morocco’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BB+’ with a Stable Outlook due to favorable debt composition, reasonably comfortable external liquidity buffers and a record of macroeconomic stability. In 2021, Morocco’s GDP growth rebounded to 7.4%, after contracting by 6.4% in 2020. “We forecast growth to decelerate to 1.1% […]