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Economy



Morocco Maintains "Medium-Stable" Business Environment Amidst Regional Uncertainty

Amidst the economic and political uncertainties prevalent in the Middle East and North Africa (MENA) region, Morocco stands out as a relatively stable operating environment for international companies, according to a recent risk assessment. In Control Risks' 2023 RiskMap report, Morocco secured......

Morocco's Journey to Energy Independence: A 21% Decrease in Energy Imports

Morocco has achieved a significant milestone on its path to energy independence. The North African nation successfully slashed its energy import bill by more than 21% in the first 11 months of 2023 compared to the previous year, as announced by the Moroccan Office of Exchange on Tuesday. This substantial......

Morocco: An Emerging Force in the Outsourcing Sector

In recent years, the Kingdom of Morocco has emerged as a key player on the global outsourcing stage. Ranked as the second-best destination in Africa and 28th internationally, experiencing a remarkable ascent of 12 positions according to the Global Services Location Index (GSLI) 2023, the country has......

French Automakers Drive Growth in Morocco's Thriving Auto Industry

Morocco's automotive industry has experienced significant growth in recent decades, marked by impressive achievements in exports and job creation. Over the past ten years, double-digit average growth in both these key indicators has propelled the sector to an annual revenue exceeding 85 billion dirhams,......

Moroccan Trade Deficit Shrinks: Imports Decline, Exports Hold Steady

Morocco's trade deficit witnessed a substantial reduction during the first 11 months of 2022, decreasing by 21.5 billion Moroccan dirhams (DH) compared to the same period last year, according to the country's Foreign Exchange Office. In the midst of global economic challenges, exports demonstrated......

Moroccan Business Outlook: Over 30% Anticipate Growth in Upcoming Quarter

In a glimpse into the Moroccan market's future, a recent survey conducted by Bank Al-Maghrib, the country's central bank, reveals that more than one-third of business owners (34%) are optimistic about improved market conditions in the next three months. This survey, conducted in November, provides......

Empowering Agricultural Cooperatives: Wider VAT Exemption Enriches Service Offerings

In a pivotal stride toward fortifying Morocco's agricultural cooperative landscape, the 2024 Finance Law heralds an extended VAT exemption designed to invigorate the sector. This progressive measure not only seeks to slash operational costs but also aims to propel the competitiveness and expansion......

Moroccan Diaspora Remittances Exceed $10.65 Billion in November, Bolstering Economic Resilience

In a promising development for Morocco's economy, new data from the Exchange Office reveals that remittances from the Moroccan diaspora have reached an impressive MAD 105.4 billion, equivalent to $10.65 billion as of November. This figure represents a notable 4.4% increase compared to the same period......

Surge in Treasury Uptake Signals Robust Financial Activity in the Primary Market

In a recent report titled "Fixed Income Weekly" by BMCE Capital Global Research (BKGR), the primary market has experienced a significant surge in treasury uptake, totaling an impressive 7.2 billion dirhams (MMDH) from December 22nd to 28th. During the final auction session of the year, the......

Sofac Bolsters Capital through DH 210 Million Share Issuance

In a momentous development, Sofac has officially declared a substantial increase in its social capital, soaring from DH 193.2 million to DH 210.45 million. This remarkable growth, totaling DH 17.25 million, was accomplished through the issuance of 172,500 new ordinary shares, each carrying a nominal......

Morocco's GDP Displays Robust Growth in the Third Quarter of 2023

In the third quarter of 2023, Morocco's national economic growth experienced a significant upswing, reaching 2.8% compared to the 1.7% recorded during the same period in 2022, as reported by the High Commission for Planning (HCP). This positive development is attributed to a 2.7% increase in non-agricultural......

AMMC Documents Update to Attijariwafa Bank's Certificate of Deposit Program

In a significant development, the Moroccan Capital Market Authority (AMMC) has officially recorded the latest update to Attijariwafa Bank's certificate of deposit (CD) issuance program. This momentous event, documented on December 28, 2023, under the reference EN/EM/038/2023, encompasses several......

Egyptian Delegation Explores Moroccan Prowess in Economic Data Compilation

In a noteworthy diplomatic exchange, Morocco's High Planning Commission (HCP) recently welcomed a distinguished delegation from Egypt to Rabat. This rendezvous was not just a customary visit; it was a strategic exploration of Morocco's expertise in the meticulous compilation of national economic......

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