First Independent Mena Newspaper
Morocco will review its 2020 appropriation bill in light of the macro-economic disruptions caused by the coronavirus and in preparation for the post-virus era, the economic monitoring committee said. The Committee, set up to address the consequences of the virus on the economy, said in its sixth meeting it will look into the cases of […]
The number of households that received financial aid from the Special Fund for the Covid-19 management has reached 5.1 million, said Interior Minister Abdelouafi Laftit on Wednesday at a parliamentary hearing. Stipends have been distributed to 800,000 people affiliated to National social security fund (CNSS), 2.3 million households having RAMED health card (medical assistance program […]
Morocco’s tourism promotion office (ONMT) is planning to encourage domestic tourism to compensate for losses due to the global impact of the coronavirus on international tourist arrivals. Prospects for a return to normalcy in the tourism sector before 2021 are bleak, said l’Economiste daily citing the office. “Hopes are therefore pinned on domestic demand as […]
Morocco’s social media is awash with criticism of a draft decree that was adopted by the government council last month containing clauses that were described as detrimental to the freedom of speech. The draft decree incriminates calls for consumer boycotts on social media, but government sources said the draft text is being edited before it […]
Moroccan pharmacies are supplied daily with 4.5 million facemasks to enable citizens protect themselves against the coronavirus, said minister of industry & trade Moulay Hafid Elalamy. Speaking at a parliamentary question time on Tuesday, the minister said the country has 7 million masks in stock, which have become compulsory in the North African country since […]
World Athletics launched on Tuesday, upon the initiative of Moroccan former athletics star Hicham El Guerrouj, a $500,000 fund to support professional athletes experiencing financial hardship due to the coronavirus pandemic. The fund, set up in partnership with the International Athletics Foundation (IAF), will be used to assist athletes who have lost most of their […]
The global coronavirus epidemic will knock 8.9 points off of Morocco’s economic growth in the second quarter of 2020, says Morocco’s Statistics agency (HCP). In its updated forecast for first semester of 2020, le “Haut Commissariat au Plan” says Covid-19 will cost the country $2.9 billion in economic loss due to a sharp drop in […]
Fitch Ratings has affirmed Morocco at ‘BBB-‘ rating and revised the Outlook on country’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to negative. The global rating agency explained the negative outlook by the impact of the coronavirus pandemic on the Moroccan economy which will experience the sharpest GDP contraction in 25 years, besides a marked increase […]
The Moroccan state will distribute aid to 4.3 million families, headed by workers in the informal sector, as the coronavirus outbreak and the measures to contain it freeze economic activity in multiple sectors pushing millions to temporary unemployment, finance minister Benchaaboun said. During the parliament question time Monday, Benchaaboun said that 2.3 million households have […]
The coronavirus pandemic and its economic consequences in host countries will have a negative impact on migrants’ money transfers to Africa, which are expected to fall sharply in 2020, according to World Bank experts. The COVID-19 pandemic is a blow to the economy of the countries on the African Continent, the experts say. In 2019, […]