First Independent Mena Newspaper
Morocco’s government has unveiled the headlines of its budget draft bill forecasting a budget deficit of 5.9% of GDP and a growth rate of 3.2%. Speaking to the press following a government council, finance minister Nadia Fettah Alaoui and minister in charge of the budget reiterated the commitment of the government to foster the social […]
The overall achievements of the electronic banking activity in Morocco reached 325.9 million transactions that totaled 275 billion dirhams in the first nine months of 2021, according to the Interbank Electronic Banking Center (CMI). This activity, which includes cash withdrawal operations on the ATM network, payment operations in shops and online, payment operations on ATMs […]
Morocco’s 2022 draft budget plans measures to bolster economic recovery, generalize social safety nets, and promote employment in addition to continuing the overhaul of the health and education sectors, a statement of the Royal Palace said. The statement was issued after a Council of Ministers, held Sunday under the chairmanship of King Mohammed VI and […]
The success story of Tanger Med, considered today as the first port infrastructure in the Mediterranean and Africa, was highlighted at the annual meetings of the World Bank and the International Monetary Fund held in Washington. Speaking at a panel focused on the “contribution of trade in the post-Covid recovery”, Director General of the Tanger-Med […]
The “Laayouneconnect” marketing platform, an initiative funded by the US government, was launched Wednesday in Laayoune with a view to boosting investment and territorial marketing in the Laayoune-Sakia El Hamra region. The launch of this platform is part of the project “Promoting economic opportunities in Dakhla and Laâyoune”, funded by the US government through the […]
Morocco has imposed itself as a competitive hub for the automotive industry which has bounced back from the Covid-19 export crisis, the Financial Times reported. The country has stood as Africa’s largest car manufacturer and exporter since 2018, thanks to a state strategy that paved the way for investments and prepared skilled labor, the newspaper […]
A freight ship loaded with Moroccan fruits & vegetables has arrived at the UK Port of Poole, in Dorset, coming from Tangier-Med port, in a new sea route launched to enhance trade exchanges & economic cooperation with Morocco after UK left the EU. The direct service, operated by United Seaways, aims at avoiding post-Brexit disruptions […]
The International Monetary Fund (IMF) has reviewed upwards its economic forecasts for Morocco saying the Kingdom’s growth is expected to reach 5.7 % in 2021, which is the best performance in the Middle East & North Africa Region. The IMF new outlook takes into account several factors including the resilience of Moroccan economy and the […]
Morocco’s economy is shaking off Covid-19 impact with a rebound in economic activity that is expected to push growth to 6.2%, Morocco’s central bank said, confirming the positive outlook for the country’s economy drawn by the IMF. The Central bank had previously forecast the economy to grow by 5.8% after it contracted 6.3% last year […]
Credit fundamentals of major Moroccan banks are recovering slowly from the negative impacts generated by the covid-19 pandemic, says Fitch Ratings. The global health crisis caused a 6.3 pc Moroccan GDP contraction in 2020, the worst contraction in 25 years. “The banks’ asset quality and profitability weakened noticeably in 2020. Nonetheless, their credit profiles were […]