First Independent Mena Newspaper
The government council approved a decree setting up a strategic investment fund worth 45 billion dirhams to spur public-private investments. The fund is part of a stimulus package of 120 billion dirhams ($12.8 bln) to help the economy recover from the coronavirus impact. The same council extended a health emergency decree for an extra month […]
Morocco’s battered tourism sector will receive a lifeline provided operators retain 80% of jobs, according to a public-private deal covering 2020-2022. The plan will help restore 2019 levels in two years through direct aid to the sector including through maintaining social support measures. This means the employees who had to stop working because of Covid-19 […]
There were 500,000 more unemployed people in Morocco by June 2020, compared to the same period last year, said the high commission for planning in its updated job market figures since the virus outbreak. The coronavirus and drought have caused a loss of 185,000 jobs in the rural world and 311,000 in urban areas, the […]
Morocco will set up a strategic investment fund worth $4.8 billion to help the economy recover from the coronavirus impact, Finance Minister Mohamed Benchaaboun said Tuesday at a news conference in Rabat. The fund is part of a stimulus package of 120 billion dirhams ($12.8 bln) unveiled by King Mohammed VI at the Throne Day […]
Morocco will expand social welfare protection to all its citizens within five years through a gradual approach, said Finance Minister Mohammed Benchaaboun, after King Mohammed VI urged in the State of the Nation speech on July 29 speeding up such a national project. Benchaaboun said the plan will proceed gradually with the first phase (2021-2023) […]
In implementation of Royal instructions, the government is preparing a reform of state-owned enterprises with a view to improving good governance, economic and social efficiency and reduce dependence on state budget, Finance Minister Mohamed Benchaaboun said. The development of these enterprises is hindered by several issues, notably low returns and dependence on state budget, which […]
Two Moroccan businesswomen have been named in the Forbes Middle- East magazine list 2020 of leading “Women Behind Middle Eastern Brands”. The two Moroccans are Salwa Idrissi Akhannouch, owner of the Yan & One cosmetics brand, 6th on the list and Mouna Abbassy, founder of the IZIL Beauty brand, who came in the 22nd place. […]
The National Office of Electricity and Drinking Water (ONEE) has selected UK company Biwater to design and construct a new wastewater treatment plant in the southern coastal town of Tarfaya. Biwater has carried similar projects in other Moroccan cities, including Tamuda Bay, Khenifra, Aourir and Boukhalef. The new project “is part of the country’s efforts […]
The economy of the occupied enclave of Ceuta contracted 40% after Morocco closed its borders, said right-wing governor Juan Vivas. The governor, known for hostile stands against Morocco, called on the EU to adopt reciprocal stands against the North African Kingdom. Morocco has closed its borders with Spain to avert a surge in coronavirus especially […]
Fewer job opportunities meant that many people had to seek jobs at Morocco’s large informal economy leaving many young people in vulnerable conditions, the central bank said in its annual report. The coronavirus pandemic has revealed the scale of the underground economy, which showed that 5 million households, representing more than half the Moroccan population, […]