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Economy


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......

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......

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......

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......

Morocco's Diaspora Remittances Surge to $10.7 Billion, Strengthening Economic Ties

Morocco's expatriate community continues to make substantial contributions to the national economy, with diaspora remittances reaching MAD 108.67 billion ($10.7 billion) by November 2024, according to recent data from Morocco's Office of Foreign Exchange. This represents a 2.8% increase compared......

Morocco Embraces Cryptocurrency Regulation: A New Chapter in Financial Evolution

Morocco has taken a bold step toward regulating cryptocurrencies, signaling a significant shift in its approach to these digital assets. For years, the country maintained a firm stance against cryptocurrency transactions, prohibiting them since 2017. Financial authorities cited concerns over consumer......

Morocco Posts 4.3% Economic Growth as Industrial Sector Drives Q3 Performance

Morocco's economy demonstrated resilient growth in the third quarter of 2024, expanding by 4.3% compared to 3% in the same period last year, according to data released by the High Commission for Planning (HCP). The growth trajectory was primarily fueled by robust performance in the secondary sector,......

Morocco and Mauritania Forge Strategic Maritime Alliance to Advance Fisheries Sector

Morocco and Mauritania are strengthening their longstanding partnership in the fisheries sector through high-level talks aimed at expanding cooperation across multiple domains. The discussion, held Monday in Rabat, brought together Zakia Driouich, Secretary of State for Maritime Fisheries, and Mauritanian......

Direct Flights Between Libya and Morocco to Resume in 2025, Boosting Regional Connectivity

Morocco and Libya are set to restore direct air routes in 2025, marking the end of a decade-long flight suspension between the two North African nations. The announcement emerged from high-level talks in Rabat between Libyan Unity Government's Transport Minister Salem Al-Shahoubi and Moroccan Minister......

Morocco and Libya Set to Restore Transportation Links After 9-Year Suspension

Libya and Morocco are taking significant steps to reconnect their transportation networks, with plans to resume air travel and establish new maritime routes in 2025. This development marks a potential end to a nine-year suspension of direct flights between the two North African nations. During high-level......