Daily Press Review - Thursday, February 01, 2024
Ramadan and Inflation: Concerns and Uncertainties on Moroccans' Minds
The sacred month of Ramadan approaches, synonymous with high consumption. However, this year, inflation and drought weigh heavily on the minds of Moroccans.
Purchasing power weakened by soaring prices and the fear of a food shortage due to drought darken the outlook.
The livestock import program and low dairy production are insufficient to alleviate concerns.
As for food prices, the Interprofessional Federation of the poultry sector assures stabilization, emphasizing less-than-expected consumption of white meat during Ramadan.
Source: Les Inspirations Eco
Amazigh Education: Ministry of Education Presents Positive Assessment and Ambitions
The Minister of National Education, Chakib Benmoussa, presented a positive assessment of measures taken to improve Amazigh education.
During a roundtable organized by the RNI parliamentary group at the House of Counselors, he emphasized that 31% of primary schools, or 1,803 establishments, offer Amazigh education.
1,860 specialized teachers and 746,000 students are involved, representing 19.5% of the total number of primary students.
Source: L'Economiste
Rising Corruption: Moroccans' Frustration
Transparency International's 2023 Corruption Perceptions Index (CPI) paints a bleak picture of the global situation, with endemic corruption and increasing impunity.
Morocco, ranked 97th out of 180 countries with a score of 38, falls in the lower average, far from standards of integrity.
The analysis reveals a stagnation of the country, unable to break free from a scourge that plagues institutions and hinders development.
Source: L'Opinion
Signing of a Memorandum of Understanding for the Organization of the 33rd FAO Regional Conference for Africa in Morocco
Morocco and the FAO join forces to organize the 33rd FAO Regional Conference for Africa, scheduled to take place in Rabat from April 18 to 20, 2024.
A Memorandum of Understanding (MoU) was signed on Wednesday in Rabat by the Minister of Agriculture, Maritime Fisheries, Rural Development, and Water and Forests, Mr. Mohammed Sadiki, and the FAO representative, Mr. Jean Senahoun.
This MoU outlines the terms of the partnership between the two parties and establishes the necessary measures for the success of the Conference.
Source: Aujourd'hui le Maroc
Panama Firmly Supports the Autonomy Initiative for the Moroccan Sahara
Panama reaffirms its unwavering support for the Autonomy Initiative presented by Morocco in 2007 as the "sole basis" for a just and lasting solution to the regional dispute over the Moroccan Sahara. This position was formalized in a Joint Declaration signed by the Foreign Ministers of both countries, Mr. Nasser Bourita of Morocco and Ms. Janaina Tewaney Mencomo of Panama, during a virtual meeting.
Panama recognizes the Moroccan Initiative as a realistic and credible solution within the international dynamic initiated by the autonomy plan. This position aligns with the overwhelming majority of the international community that acknowledges the central role of the UN and its Security Council in seeking a definitive political solution.
Source: AL Bayane
The Brands Sector in Morocco Thriving
The brands sector in Morocco is experiencing rapid growth, with an annual rate of 10 to 15%. This dynamic is attributed to the development strategy of large shopping centers, attracting international brands.
Currently, 350 national and international brands operate in Morocco under the auspices of the Moroccan Franchise Federation (FMF), totaling 5,000 points of sale and providing 100,000 to 150,000 jobs.
Established in 2006, the FMF supports companies in their franchise development by providing a favorable legal, financial, and IT framework.
Source: Al Bayane
Morocco, an Economic Exception in a Gloomy Regional Context
The International Monetary Fund (IMF) predicts exceptional economic growth for Morocco in 2023 and 2024, despite an uncertain economic environment in the MENA region.
While most emerging and middle-income countries in the region suffer from the Gaza conflict, Morocco is expected to show 3% growth in 2023, driven by tourism and domestic demand.
This performance is expected to continue in 2024, with growth forecasted at 3.1%, provided there is a normal agricultural season.
The IMF has revised down its growth forecasts for the entire MENA region, from 3.4% to 2.9% in 2024.
Source: Aujourd'hui le Maroc
Al Jayl Al Akhdar: Youth Agricultural Entrepreneurship in Progress in the Regions
The Al Jayl Al Akhdar (Green Generation 2020-2030) program focuses on youth entrepreneurship as a driver of agricultural and rural development.
In the regions of Beni Mellal-Khénifra and Guelmim-Oued Noun, the program is making strides thanks to collaboration between the Ministry of Agriculture and the Regional Centers for Young Agricultural and Agri-food Entrepreneurs (CRJEA).
The goal is to create a new generation of dynamic and innovative agricultural entrepreneurs.
Source: Aujourd'hui le Maroc
Bank Credit: Modest Growth in 2023, Real Economy in Question
Overall bank credit increased by 5.2% in 2023, but this growth masks a more contrasting reality.
Financing for households and private businesses experienced modest growth of 1.1%, compared to 7.4% in 2022.
On the other hand, diverse claims on customers, mainly for financial institutions, surged by 19%.
This situation raises questions about the dynamics of the real economy and the ability of the banking sector to support growth.
Source: Le Matin du Sahara
AfDB Innovates Successfully with Hybrid Bonds to Finance Development in Africa
The African Development Bank (AfDB) achieved a global first by issuing hybrid bonds, garnering over $3 billion in orders for an initial target of $500 million.
This unprecedented operation for a multilateral development bank will enable the AfDB to finance crucial projects in Africa, especially in the areas of food security, water, health, and climate change.
The success of the issuance underscores investors' confidence in the financial strength of the AfDB and its commitment to supporting sustainable development on the continent.
Source: Le Matin du Sahara
Driss Lachguar Wields the Threat of a Vote of No Confidence: Bluff or Genuine Intent?
During the national council of the USFP, Driss Lachguar brandished the threat of a vote of no confidence against the government.
However, this threat seems less credible in the face of the government's comfortable majority.
Article 105 of the Constitution, allowing for a vote of no confidence, appears challenging to activate in the current context.
It remains to be seen whether the USFP and other opposition parties will unite to try to topple the government.
Source: Liberation