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Daily Press Review - Thursday, January 11, 2024

Thursday 11 January 2024 - 08:53

L'OPINION:

Impact of VAT Reform on Prices of Economy Cars in Morocco

The 2024 Finance Law introduces a reform in the Value Added Tax (VAT) applied to so-called "economy" cars. The rate increases from 7% to 10%, raising concerns about its impact on the Moroccan automotive market. The reduced VAT rate was previously aimed at encouraging investments in the sector and attracting major manufacturers like Renault and Peugeot (now Stellantis). While Morocco has successfully developed its automotive industry in recent years, the 3% VAT hike raises fears of increased prices for popular economy cars, especially those from market leader Dacia. Professionals are questioning the potential impact on commercial activity. Although the reform applies only to the domestic market, the president of AIVAM (Association of Vehicle Importers) fears repercussions on final prices. Ongoing discussions between the government and stakeholders aim to find suitable implementation methods. Morocco is also counting on 100% Moroccan manufacturers like Neo Motors and Namx, whose models could revolutionize the national and African markets. In this complex context, a careful assessment of the VAT reform's effects is necessary to avoid destabilizing the national automotive sector.

LIBERATION:

Foreign Laureates of Morocco Reaffirm Doucouré Makan as ASLEM President

The Association of Foreign Laureates of Morocco (ASLEM) re-elected Doucouré Makan as its president during the general assembly on January 6. Held at the Rabat-Agdal faculty, the executive board also reiterated support for key members like Secretary-General Idriss Mohamed Abdou and Treasurer N'guessan Michael Christel. This reaffirmation follows a year marked by numerous achievements for ASLEM despite the challenging health context. The association acquired a headquarters in Rabat and organized initiatives such as a medical caravan and an African tour. The outgoing president's presented report received praise from attendees, including the Ghanaian ambassador and representatives of partner institutions. For 2024, ASLEM plans significant events such as the Foreign Laureates Summit and the launch of a review. Proposals for expanding partnerships and increasing visibility have been suggested. Established in 2018, ASLEM aims to bring together foreign laureates in Morocco, strengthening cooperation in professional, scientific, and cultural domains while providing advice and recommendations to partners.

LE MATIN DU SAHARA:

Pedro Sánchez: Relations with Morocco have "reached a high level of solidity and trust"

During the 8th Conference of Spanish Ambassadors Abroad in Madrid, Prime Minister Pedro Sánchez expressed satisfaction with the state of relations between Spain and Morocco. He stated that they have "reached a high level of solidity and trust," emphasizing it as a "priority" for his country. Sánchez recalled last year's high-level Spanish-Moroccan meeting in Rabat, which he believes "opened a new chapter" in bilateral ties, marked by broad ministerial participation and the signing of the highest number of agreements in both countries' history. The Spanish Prime Minister also highlighted the importance of enhancing dialogue with Maghreb countries to address the root causes of irregular immigration and emphasized the need to preserve stability and security in the Sahel region, a priority for Spain and Europe. In conclusion, Sánchez stressed the importance of continuing to strengthen the excellent relations between Spain and its Moroccan neighbor.

AL BAYANE:

Prices of Nearly 4,500 Drugs Reduced

The Ministry of Health has approved a tariff reduction for nearly 4,500 pharmaceutical products available in pharmacies. This decision is in line with the provisions of the 2024 Finance Law. Among the most sold drugs, the price of Doliprane has decreased by 50 cents to 1 dirham. For instance, the box of 8 effervescent tablets now costs 13.70 dirhams compared to the previous 14.60 dirhams. Cold medicines have also experienced a slight decline, ranging from 20 cents to nearly 2 dirhams, depending on the product. For example, the Rhumix box loses 2 dirhams, now priced at 20.60 dirhams. However, some consider these reductions minimal and insufficient, having a negligible impact on the financial accessibility of modest households. To truly reduce prices, experts believe action should be taken on the profit margins of manufacturers, wholesalers, and pharmacists. This policy aims to enhance citizens' purchasing power amid an inflationary context, with its tangible impact yet to be seen.