Economy
The Moroccan government has unveiled a comprehensive wage and tax reform package set to take effect in 2025, aimed at boosting purchasing power and stimulating domestic consumption amid inflationary pressures. Starting January 1, 2025, the guaranteed minimum interprofessional wage (SMIG) will increase......
Europa Oil & Gas has announced a significant oil discovery in Morocco's Agadir Basin, with estimated reserves of 1 billion tons within the Inzegane permit area. The discovery site, spanning 11,220 square kilometers near Tarfaya, Sidi Ifni, and Tan-Tan, places Morocco in a strategic position for......
The Souss-Massa region has witnessed a significant milestone in cooperative development through the successful conclusion of the "Grow & Pitch" program, a collaborative initiative between the European Investment Bank (EIB), European Union (EU), and Bank of Africa, in partnership with the......
Thomas Reilly, the former British ambassador to Morocco, has returned to the North African nation in a pivotal role as a senior consultant for Euros/Agency Africa. Tasked with guiding the group’s strategic growth, Reilly will focus on geopolitical analysis, government relations, and international......
The General Tax Directorate (DGI) has published the 2025 General Tax Code (CGI), which introduces important updates to the 2024 edition. These revisions are in line with the changes introduced by the Finance Law No. 60-24. The new CGI is structured into three volumes, each addressing different aspects......
Macao recently witnessed a pivotal moment as Chinese President Xi Jinping swore in its new Chief Executive, Sam Hou Fai, during the 25th anniversary of the region’s handover to China. In his address, Xi emphasized the need for the city to diversify its economy, a critical move for the world’s......
Morocco's inflation rate is projected to decline significantly, reaching a five-year low of 1% in the fourth quarter of 2024, according to Bank Al-Maghrib (BAM), the country's central bank. This marks a substantial improvement from the 6.1% rate recorded in 2023. Core inflation, excluding volatile......
Starbucks employees are set to strike in three major U.S. cities this Friday, with union leaders warning that the action could spread nationwide in the busy days leading up to Christmas. The strike will initially affect locations in Los Angeles, Chicago, and the company's home city of Seattle. This......
French construction group Nouvelles Générations d’Entrepreneurs (NGE) has announced its successful bid for Lot 3 of Morocco’s high-speed rail expansion project, linking Kenitra and Marrakech. This marks the company’s first railway contract in the country and aligns with......
Bitcoin, which has been soaring to record highs in recent weeks, experienced a significant decline, losing approximately $8,000 in value. This drop follows key decisions by the U.S. Federal Reserve, led by Chair Jerome Powell, that unsettled investors. Interest rate cuts spark concerns On December......
Trelleborg, a Swedish manufacturer of industrial machinery, commenced the construction of a new aerospace sealing systems factory in Nouaceur, a region in northwestern Morocco. The $10.2 million project is expected to create 150 to 200 jobs and aligns with Morocco's broader goals to integrate further......
Abdellatif Jouahri, Governor of Bank Al-Maghrib, has called for meticulous financial planning ahead of Morocco’s co-hosting of the 2030 FIFA World Cup. Speaking during the bank’s quarterly board meeting, Jouahri emphasized the importance of fostering sustainable economic growth and warned......
Morocco has designated approximately 18,000 hectares of public land for investment initiatives in 2024. The projects aim to bolster sectors critical to the nation’s growth, including renewable energy, tourism, and housing. Nadia Fettah, Minister of Economy and Finance, addressed the House of Councillors......
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