Daily Press Review - Monday, March 18, 2024

Impact of Family Allowances on Purchasing Power and State Budget: Société Générale Analysis

In an analysis of the Moroccan economy, Société Générale examines the expected impact of family allowances on purchasing power and the state budget, taking into account the announced decompensation, tax repercussions, and inflation.

The implementation of family allowances, in the form of direct aid to households and a social shield guaranteeing a minimum of 500 dirhams per month, is expected to largely offset the loss of purchasing power.

Direct assistance for social housing and middle-income households should also provide relief to targeted populations and result in a significant increase in purchasing power.

Source: Le Matin du Sahara

Morocco Leading Solar and Green Hydrogen Revolution in MENA Region, Says Fitch Solutions

Morocco is positioning itself as a leader in the solar and green hydrogen revolution in the MENA region, according to an analysis by Fitch Solutions.

The MENA region is set to become a major hub for solar energy, with installed capacity expected to reach 3% of global capacity by 2033, up from less than 1% in 2022. Morocco, the United Arab Emirates, Saudi Arabia, and Egypt are among the countries attracting the most investment in this field.

The allocation of land to investors for solar energy projects is a key factor in this growth. Countries like Morocco, the UAE, Saudi Arabia, and Egypt have already implemented this practice, while others like Oman, Kuwait, and Qatar are considering doing so.

Source: Le Matin du Sahara

Tindouf-Zouerate Road: A "Wild West" in the Heart of the Sahara

Inaugurated a few weeks ago, the Tindouf-Zouerate road, intended to compete with the Guergarate axis, turns out to be a dangerous area that has not undergone any serious prior study.

Dubbed "the cemetery road," this 800-kilometer route crosses an arid desert devoid of infrastructure. Numerous reports cite disappearances and attacks by armed groups.

Recently, an armed group blocked a car near Ain Bentilly, east of the Tersal area. Onboard were a senior religious dignitary, Mohamed Salahi, and one of his disciples. They were beaten, tied up, and taken to an unknown location. After walking for an entire night, they were rescued by nomads.

Source: Liberation

Morocco Aiming to Become a "Digital Nation": Telecoms as Drivers of Digital Transformation

Morocco aims to become a "Digital Nation" and a digital hub for Africa. To achieve this, the country must set quantifiable goals and establish a clear strategy, relying on the telecommunications sector as a driver of digital transformation.

According to expert Khalid Ziani, it is crucial for Morocco to understand its strengths and limitations in the telecommunications sector. It is from this assessment that a strategic plan can be defined, specifying the priorities, roles of the state, operators, regulatory bodies, and other stakeholders involved.

Telecommunications are now the fuel for digital transformation. Morocco saw growth in all segments of the telecom market in 2023.

Source: L'Economiste

Morocco Rises Three Places in Global HDI Ranking

Morocco has achieved a notable performance in human development, climbing three places in the global Human Development Index (HDI) ranking according to the 2023-2024 report published by the United Nations Development Programme (UNDP).

Morocco now ranks 120th out of 191 countries, up from 123rd the previous year. This marks the first time in over a decade that the country has made such a significant leap in a single year.

This progress is the result of efforts in key areas of human development, namely education, health, and economic development. The UNDP report highlights progress made in social inclusion and access to opportunities for all citizens.

Source: Aujourd'hui le Maroc

Increased Controls on Prices and Quality of Food Products in Es-Semara

Authorities in the province of Es-Semara have intensified controls on the prices and quality of food products in markets and sales points in anticipation of the sacred month of Ramadan.

On Saturday, a provincial joint commission conducted inspections at several sales points to ensure compliance with subsidized product prices, the quality of basic products, and market supply.

These controls aim to preserve citizens' purchasing power, protect their health, and ensure regular food supply during Ramadan.

Source: Aujourd'hui le Maroc

Departure of 400 Moroccan Agricultural Workers to Spain

A group of 400 seasonal female agricultural workers left the port of Tanger Ville for Spain on Friday as part of a bilateral cooperation program aimed at providing seasonal employment opportunities in the agricultural sector.

This program, spanning the year 2024, will enable 16,000 Moroccan women from rural areas across the country to work in Spanish fields.

This initiative is part of the National Strategy for International Professional Mobility (SNMPI) and increased cooperation between Morocco and Spain in terms of employment and circular migration. A bilateral agreement was signed in Madrid in 2001 to formalize this partnership.

Source: Aujourd'hui le Maroc

New Status Quo Expected for BAM Council

After a year marked by four maintenance periods of the key interest rate at 3%, analysts predict a status quo at the upcoming meeting of the Bank Al-Maghrib (BAM) Council scheduled for March 21, 2024.

Reasons for the status quo:

- Transmission of previous rate hikes: The decision to maintain the key interest rate aims to continue transmitting the effects of last year's cumulative increases on monetary conditions and the real economy.

- Decline in inflation expectations: The ongoing decline in medium-term inflation expectations reinforces the decision to maintain the current rate.

Source: Al Bayane

Morocco Calls for Federative and Efficient Leadership at AU

Morocco called on Friday for federative and efficient leadership of the African Union (AU) Commission during the 22nd extraordinary session of the AU Executive Council.

Ambassador Permanent Representative of the Kingdom to the AU and the ECA-UN, Mohamed Arrouchi, emphasized that the AU Commission is a central pillar of the pan-African institution.

Mr. Arrouchi stressed the importance of strong leadership to successfully carry out the comprehensive reform process of the AU and to consolidate the process of building and promoting regional integration.

Source: Al Bayane

Al Koutoubia Mosque Reopens to Worshipers After Restoration

The Al Koutoubia Mosque, a symbol of Marrakech, has reopened to worshipers following the completion of restoration work undertaken after the earthquake on September 8.

The reopening of Al Koutoubia is part of a royal program to restore and rebuild 43 mosques across Morocco. The building, with its majestic minaret towering at 77 meters, was constructed during the Almoravid dynasty in 1120 and renovated by the Almohads in 1162.

Source: Liberation

Casablanca-Settat: 7 New Cinemas Illuminate Cinematic Landscape

Seven new cinemas have opened in various provinces of the Casablanca-Settat region, as part of a national project to operate 150 cinemas across the Kingdom.

This project, launched by the Ministry of Youth, Culture, and Communication, aims to democratize access to cinema and stimulate interest in Moroccan and international cinema.

The new cinemas in Casab

lanca-Settat are located in cultural centers in Casablanca, Bouskoura, Ain Harrouda, Ben Ahmed, Benslimane, Settat, and El Jadida. They offer a total capacity of 2,704 seats and feature a rich and diverse programming, with two screenings from Wednesday to Saturday and three screenings on Sunday.

Source: L'Opinion