First Independent Mena Newspaper
Moroccan economic growth is expected to reach 1.1 pc this year before rebounding to 3.4 pc in 2023, says the World Bank in its latest updated forecast. The WB says growth in Morocco is projected to slow to 1.1% in 2022 as agricultural output declines by 17.3% due to the drought. The economy is projected […]
Libya’s National Oil Corporation has transferred $8 billion to the count of the Finance Ministry of the Government of National Unity (GNU) of Prime Minister Abdul Hamid Dbeibeh who has refused to give up power despite his removal by the country’s parliament. The funds, into two installments, have been sent to the Central Bank of […]
Morocco’s electricity utility ONEE said it expects the cost of buying energy to more than double to 47.7 billion dirhams this year, from 22 billion dirhams last year, because of a surge in prices of fuel and coal in the international market. Speaking to MPs, head of ONEE said that this surge was not reflected […]
A twinning project between Morocco and the European Union (EU) was launched on Wednesday in Rabat, with a view to strengthening the aquaculture sector in the Kingdom. The EU Ambassador to Morocco, Patricia Llombart Cussac, highlighted the importance of this partnership which will allow the creation of more than 4,000 direct jobs in addition to […]
Morocco’s spending on cooking gas, sugar and flour subsidies hit 10 billion dirhams ($1 bln) so far this year, compared with 3.8 billion dirhams the same period last year, official figures showed. This 170% increase is mainly due to the simultaneous post-covid recovery which created high demand on commodities, worsened by an offer shortage […]
Trade exchanges between Morocco and Brazil reached $466.3 million in the first quarter of 2022, or 18.2 pc increase compared to the same period of last year. According to data released by Brazil’s economy ministry, Moroccan exports to Brazil dropped to $223.5 million in Quarter 1 2022 from $251.8 million recorded from January to March […]
Tunisia has received $700 million in credit facility from African Export–Import Bank known as Afreximbank. President Kais Saied, according to a statement by the state-run television, approved the credit line requested by the Central Bank of Tunis. The statement neither provided details on the period of the loan nor the interest rate. […]
Investment opportunities in Morocco’s agribusiness sector and its attractiveness to operators in the United Kingdom, were at the focus of a webinar organized Tuesday by the British Chamber of Commerce for Morocco (BritCham). Speaking on this occasion, official from the Ministry of Industry and Trade, Hamid Baadi, highlighted the importance of the national food sector, […]
Italy’s automotive giant, Fiat, will resurrect its Topolino model in electric version based on Citroen Ami, already being manufactured in Kenitra plant in Morocco. Fiat is part of Setllantis group which also controls PSA, Citroen and Opel and has a factory in Kenitra. Just like the Ami, the Topolino is expected to be sold in […]
UK mining company Altus Strategies Plc announced this Tuesday that the Moroccan ministry of Energy Transition has granted it a 10 year mining license for Agdz copper and silver project. Agdz is located 14km southwest of the Bou Skour Cu-Ag mine in the eastern Anti-Atlas of Morocco. Agdz is one of 14 Moroccan projects […]