First Independent Mena Newspaper
The Algerian economic model, which is depending heavily on oil & gas revenues, is seemingly crumbling. The new financial realities have shown that its former decade’s high spending is no longer possible with the rapidly depleting state coffers and widening deficit. Hit hard by a sharp drop in oil prices on the international and the […]
The US government announced Friday that it has provided $5.7 million in aid to Morocco to help in the fight against the COVID-19 pandemic. This aid includes $4 million from the Economic Support Fund (ESF) to support the socio-economic recovery among marginalized and vulnerable populations in urban and rural areas through a cash transfer program, […]
Norway and the Netherlands have contributed $2.5 million in a fish farming project launched Thursday in Morocco. The project is meant to promote aquaculture industry, techniques and skills in Morocco. It is supported by the UN Food & Agriculture Organization (FAO), Moroccan fisheries Department and the National Aquaculture Development Agency. The project, which is in […]
The Moroccan parliament has adopted a decree allowing the government to resort to unlimited foreign borrowing in order to ensure enough international reserves to fuel the economy. Morocco’s trade balance has been chronically suffering from a trade deficit that has deepened in the first quarter this year due to falling exports as a consequence of […]
The Algerian Finance Minister debunked the government over the country’s finance following the crash of global oil, noting that the situation is dire and that it is pointless to lie. Abderrahmane Raouya, during an improvised press conference in capital Algiers Wednesday, confirmed that the state finances have drastically dwindled, TSA reports. The North African country […]
The World Bank will grant Tunisia $35 million destined to support the health ministry in its fight against the novel covid-19 and finance the purchase of medical equipment. The Washington-based institution in a statement said $20 million of the aid package is earmarked to bolster the capacity of the health system and support the North […]
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 […]