First Independent Mena Newspaper
Economic leadership that was long concentrated in the West has decisively shifted towards emerging economies, whereby this historic global shift in trade and power is redefining Africa’s role in the world economy, says a new book ‘West to East: A New Global Economy in the Making’. Its author, economist Arno van Niekerk, described in a […]
On September 23, Mohammed Al-Huwaij, the Minister of Economy in the Government of National Unity, assured the public that Libya maintains a strategic reserve of essential food supplies sufficient for at least three months. He also announced that letters of credit would be opened within the week to facilitate the import of these goods. Al-Huwaij […]
African economy is expected to grow by 3.4% this year and 3.8 in 2025, said the World Bank, noting that the rate was not enough to curb poverty. The continent needs higher growth rates to help at least 462 million people in sub-Sahara who were still living in extreme poverty by 2023, the World Bank […]
Morocco’s economic growth stood at 2.9% in the first three months this year, despite drought that undermined agricultural production. Led by domestic demand, non-agricultural growth was at 4% the same period thanks to the industrial sector and services, the high commissioner for planning said in a report. Rainfall was 42% lower compared to last year […]
The Moroccan economy has been opening up, leading to the development of new sectors such as aerospace and automotive industry, says the 2024 Bertelsmann Transformation Index report (BTI), which analyzes transformation processes towards democracy and a market economy worldwide. Morocco has made good progress in carrying out reforms to improve market competitiveness, adds the report […]
The mining sector has helped the South African economy avoid recession with a growth of 0.1% in the fourth quarter. The rate is not enough to create jobs for the millions of the unemployed in the country which braces for elections in May. The key mining industry recorded a 2.4 percent increase in output helped […]
The Moroccan-Russian relations and the 2023 Russia-Africa Summit due in St. Petersburg July 27-29 were at the center of talks held Wednesday in Moscow between Moroccan ambassador to Russia Lotfi Bouchaara and deputy foreign minister Mikhail Bogdanov. The two parties also discussed bilateral political dialogue on regional issues of common concern, said the Russian foreign […]
The Moroccan economy has made remarkable progress and impressive export growth, particularly in industrial sectors such as automotive and renewable energies, said Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva. “Morocco has exported 700,000 cars, which shows the country’s upward trend in this highly competitive sector. The North African Kingdom also manufactures aircraft […]
The size of Kenya’s economy will overtake that of Angola, Africa’s leading oil producer, this year even as Ethiopia stretches its lead, according to the projection presented in the International Monetary Fund’s (IMF) latest World Economic Outlook. The IMF projects Angola’s gross domestic product (GDP) to shrink during the period, hence catapulting Kenya, whose economy […]
Botswana’s government has revised upwards its 2022 economic growth forecast to 6.7% from an earlier estimate of 4.2 per cent, the country’s Finance Minister Peggy Serame said on Monday according to Reuters. Serame, who was speaking during an annual budget speech, argued that the 2022 revision was linked to the diamond-rich southern african country’s strong […]