Tag: Coronavirus impact
Finance Headlines Maghreb Morocco

Morocco announces $12.8 bln to help economy recover from Coronavirus impact

North Africa PostComments Off on Morocco announces $12.8 bln to help economy recover from Coronavirus impact

King Mohammed VI said Morocco will inject 120 billion dirhams (12.8 billion dollars) as a post-coronavirus crisis stimulus package to offer incentives and come up with solidarity measures to support businesses, especially small and medium-sized enterprises. The package represents 11% of Morocco’s GDP, “a proportion that will place Morocco at the forefront of the most […]
Algeria Business Headlines

Algeria slashes spending by 50% due to drop in oil earnings & Coronavirus impact

North Africa PostComments Off on Algeria slashes spending by 50% due to drop in oil earnings & Coronavirus impact

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 […]