X

Economy


Tanger Med: A Rising Star in Global Port Rankings

The Tanger Med Port has achieved a significant milestone by securing third place in the 2024 Global Port Performance Index (CPPI), marking a remarkable leap from its previous fifth position. This advancement underscores Morocco's relentless efforts to enhance its port infrastructure and logistics......

Study Reveals 70% of Moroccan Households Without Personal Vehicles

A comprehensive market study by Sunergia and L'Economiste has unveiled significant disparities in car ownership across Morocco, highlighting notable urban-rural divides and generational patterns in vehicle acquisition and maintenance. The research indicates that only 30% of Moroccan households own......

Morocco's 2025 Cigarette Tax: Budget Brands Face Steep Price Jump

Morocco is set to implement significant price increases on cigarettes in 2025, with entry-level brands bearing the brunt of the adjustment as part of the government's broader tax reform strategy. The move aims to create a more balanced tobacco market by reducing the price disparity between budget......

UK Manufacturing Sector Faces Steepest Decline in Nearly a Year

British manufacturing experienced its sharpest contraction in 11 months this December, as revealed by a recent survey. Weak foreign demand, rising costs, and increased tax burdens drove manufacturers to scale back operations, including workforce reductions, signaling broader economic challenges. Declining......

Credit Agricole Morocco Secures $100M Year-End Bond Issue Amid Strategic Transitions

Credit Agricole of Morocco (CAM) has concluded 2024 with a robust MAD 1 billion ($100 million) subordinated bond issuance, signaling strong market confidence in the institution's financial standing. The December 31 operation was strategically structured into two equal tranches of MAD 500 million......

Historic Bond Success: BCP Secures $120 Million as Morocco's First Female Bank CEO Takes Charge

Banque Centrale Populaire (BCP) has successfully concluded a MAD 1.2 billion ($118.9 million) perpetual subordinated bond issue, marking a significant achievement under the guidance of Naziha Belkeziz, Morocco's first female bank CEO. The offering, which ran from December 25-27, 2024, garnered exceptional......

The Spectacular Rise of Bitcoin in 2024: A Historic Year for Cryptocurrencies

In 2024, Bitcoin experienced an extraordinary performance, rising more than 120%, driven by two pivotal events: the approval of Spot ETFs by U.S. regulators and the anticipation of a potential return of Donald Trump as President. This remarkable surge solidified Bitcoin's dominance in the cryptocurrency......

Morocco's Trade Gap Widens to $26.8 Billion Despite Export Growth in Key Sectors

Morocco's international trade performance showed mixed signals through November 2024, as the nation's trade deficit expanded to MAD 275.74 billion ($26.8 billion), marking a 6.5% increase from the previous year's MAD 258.83 billion ($25.1 billion). Trade data from the Exchange Office reveals......

Morocco's Record-Breaking Tax Amnesty Draws $10 Billion in Undeclared Assets

Morocco's latest tax amnesty program has concluded with exceptional results, attracting declarations of MAD 100 billion ($10 billion) in previously undeclared assets. This historic achievement marks a twentyfold increase compared to the 2020 amnesty results, significantly surpassing the government's......

Canadian Mining Firm Achieves Major Silver Production Milestone in Morocco with $50M Growth Plan

Montreal-based Aya Gold & Silver Inc. has marked a significant achievement by reaching commercial production at its expanded Zgounder silver mine in Morocco, while announcing plans for an additional $50 million investment in the country. The company's new processing plant, which began construction......

Moroccan Billionaires Akhannouch and Benjelloun Hold Strong on Forbes Global List Amid Political Tensions

Morocco's Head of Government Aziz Akhannouch and banking magnate Othman Benjelloun maintain their positions among global billionaires, according to Forbes' latest rankings. Akhannouch's net worth stands at $1.6 billion, securing the 1999th position globally and 14th in Africa, while Benjelloun......

Morocco's Industrial Sector Shows Modest Growth as Producer Prices Edge Up in November 2024

Morocco's industrial sector demonstrated subtle economic shifts in November 2024, with the Industrial Producer Price Index Excluding Petroleum Refining recording a modest 0.1% increase, according to recent data from the High Commission for Planning (HCP). The food industry emerged as the strongest......

Morocco Unveils MAD 14 Billion Plan to Combat 21% Unemployment Rate

Morocco's economic landscape faces significant challenges as Employment Minister Younes Sekkouri addressed the pressing issue of unemployment, which has reached 21%, during a recent parliamentary session. The situation is particularly concerning given that approximately 900,000 people—two-thirds......