First Independent Mena Newspaper
Fitch Ratings has assigned Morocco’s Long-Term Foreign-Currency Issuer Default Rating (IDR) ‘BB+’ rating with a stable outlook due to the country’s macroeconomic stability, low inflation, a moderate share of foreign-currency debt in total general government debt and comfortable external liquidity buffers. Morocco’s fiscal deficit is expected to narrow to 6.3% of GDP in 2021 from […]
Morocco’s crackdown on all sorts of smuggling and contraband originating from the enclaves of Ceuta and Melilla under Spanish occupation has helped the country gain an additional 4 billion dirhams in customs revenue. Since the outbreak of the coronavirus, Morocco has maintained its borders closed with the two cities to fight the virus but the […]
Moroccan banks have shown resilience to the impact of the Covid-19 crisis maintaining enough provisions to face the surge of the cost of risk due to a rise in impaired loans, analysts and the central bank say. The IMF has urged the Central Bank to keep ensuring that the Banks had enough provisions to deal […]
Morocco’s flag carrier, Royal Air Maroc, has been voted the best airline in the African continent by the Global Traveler magazine following its 2021 GT Tested Reader Survey, asking travelers to name the best airline, airport, hotel, and travel services. The trophy was handed over to the Moroccan airline at a ceremony organized lately by […]
The World Bank approved on Wednesday a $450 million loan for Morocco which is deploying sustained efforts to modernize its public sector through the implementation of an ambitious governance reform program . Over the past few years, Morocco has embarked on long-term and wide-ranging reforms to improve the overall performance of the public sector and […]
Alstom is investing €10.5 million in Morocco to build a new production line and develop capability in the country to manufacture on board transformers. It will be the second production line at Alstom’s facility in Fez, which currently produces harnesses and electrical cabinets for rail and take up about 13,000 m2 of the facility and […]
Morocco’s economic, social and environmental council (CESE) put forward a set of recommendations to cut the share of informal employment in the job market to 20%, a rate close to developed countries. According to national and international institutions, the informal economy accounts at least for 36% of all jobs in Morocco and it has a […]
Morocco’s National Office of Electricity and Drinking Water (ONEE) and the African Development Bank (AfDB) signed an additional €18 million financing agreement to ensure the sustainability and security of drinking water supply in several regions of the Kingdom. This additional financial assistance will contribute, with the €115 million loan already mobilized in 2018, to finance […]
Moroccan and Israeli businessmen will hold a forum in Marrakech in May 2022 (from 17 to 19) to discuss ways of boosting economic cooperation and investment between the two countries. The announcement was made by the Moroccan-Israeli Chamber of Commerce and Industry (CCIMI), one year after the normalization of relations between Morocco and Israel within […]
Tourism businesses saw their hopes of a recovery this year shattered after the flight bans to shield the country from new variants. The government has so far approved aid to the sector to keep jobs but professionals complain the measure is not enough, calling for a tax exemption and stipend to workers that span from […]