Economy
Morocco and the European Investment Bank (EIB) have forged a historic alliance, formalizing a financial partnership valued at 100 million euros to bolster Morocco's ambitious Forests of Morocco 2020-2030 strategy. The signing of this agreement, attended by esteemed delegates including Fouzi Lekjaa,......
The autonomous water and electricity distribution company of Marrakesh, RADEEMA, has unveiled ambitious plans to invest nearly $3 billion over the next five years in fortifying the city's water and power systems. This extensive infrastructure project is geared towards ensuring a reliable supply of......
In a remarkable achievement, the Moroccan craft sector continues its outstanding performance, reaching a staggering 984 million dirhams by the end of November 2023, marking a notable 7% increase from the previous year. Minister of Tourism, Craftsmanship, and Social and Solidarity Economy, Fatim-Zahra......
Morocco has recently finalized agreements with Germany's development bank, KfW, securing €250 million in loans and €7 million in grants. These funds are earmarked for crucial social protection, sustainable transportation, and irrigation projects. In a ceremony held in Rabat on Wednesday,......
In the face of challenging global economic conditions, Morocco's Marrakech-Safi region exhibited remarkable resilience in 2023, maintaining robust economic growth throughout the year. The region experienced a staggering influx of investments, surpassing 119 billion Moroccan dirhams, marking a remarkable......
Renowned Moroccan executive, Hicham Kabbaj, has assumed the role of President for the Middle East and Africa (MEA) division at Worley, an Australian engineering professional services company. This significant appointment marks another milestone in Kabbaj's distinguished career. Kabbaj brings a wealth......
Morocco's central bank, Bank Al-Maghrib (BAM), envisions a promising trajectory for the country's inflation rate, forecasting a decline from 6.6% in 2022 to an average of 6.1% in 2023. Looking further ahead, the rate is anticipated to decrease even more, reaching 2.4% in both 2024 and 2025, according......
In a strategic move aimed at optimizing financial resources, the Moroccan Treasury and External Finance Department (DTFE), operating under the purview of the Ministry of Economy and Finance, unveiled a groundbreaking initiative on Monday to invest MAD 2.4 billion in cash surplus. This innovative endeavor......
In a dazzling display of growth and significant advancements, Morocco's automotive industry has soared to unprecedented heights, marking an exceptional year for the sector. According to the monthly indicators of foreign trade by the Office des Changes, automotive sales witnessed a staggering 30.5%......
The demand for mangoes in Morocco is witnessing a remarkable upswing. In the period spanning January to September 2023, the nation's mango imports achieved a noteworthy milestone, totaling 12,400 tons marginally less than the 12,600 tons documented in the corresponding period of the preceding year. Despite......
In a promising outlook for the Moroccan economy, Bank Al-Maghrib (BAM), the country's central bank, has projected a growth rate of 2.7% for the year 2023, with further improvements anticipated in the following years. The latest quarterly meeting of BAM has illuminated the positive trajectory, indicating......
Morocco's nascent legal cannabis industry has experienced substantial growth in the past year, as evidenced by recent data released by the National Agency for the Regulation of Cannabis Activities (ANRAC). As of the end of November, ANRAC has granted 609 authorizations out of 1,063 license applications......
Morocco is on the verge of a significant regulatory breakthrough in the realm of crypto assets, as it works on a new bill aligning with recommendations from the latest G20 Summit. Governor Abdellatif Jouahri of Bank Al-Maghrib (BAM), the central bank of the Kingdom, unveiled this progressive development......
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