Economy

Maroc Telecom, Morocco's foremost telecommunications provider, has reported a significant 5.1% increase in its customer base for the first half of 2024, reaching a total of 78.4 million subscribers. This growth comes despite facing stiff competition and legal challenges in its domestic market. The......

The Moroccan government is poised to implement significant income tax reforms aimed at reducing the financial burden on workers while ensuring the persistence of crucial social support programs. This announcement was made by Fouzi Lekjaa, the Minister Delegate to the Minister of Economy and Finance,......

AfDB President Lauds King Mohammed VI for Transformative Progress In a recent statement, Akinwumi Adesina, President of the African Development Bank Group (AfDB), hailed the extraordinary advancements Morocco has achieved under the leadership of King Mohammed VI. As Morocco approaches Throne Day, Adesina......

Morocco's social assistance initiative has witnessed a substantial response, with 4.6 million applications submitted by July 6. This announcement came from Nadia Fettah, the Minister of Economy and Finance, during a recent session in the House of Representatives. Fettah highlighted the current state......

In a notable expansion of its network, Air Arabia has unveiled plans to introduce three new direct routes connecting Morocco with Europe. This strategic move aims to enhance travel options between Moroccan cities and key European destinations. Starting October 28, travelers can look forward to a new......

In a significant development, the Minister of Economic Inclusion, Younes Sekkouri, has announced that graduates from professional training programs in Morocco are experiencing an impressive 90% integration rate into the job market. This revelation came during a recent interrogatory session at the House......

Projected Spending Cuts and Fiscal Strategies Signal Optimism Amid Challenges Morocco is on a path to reduce its fiscal deficit over the next few years, according to a new report from Fitch Ratings. The credit rating agency forecasts that the North African nation’s fiscal deficit will decrease......

Tetouan Park, Tanger Med Region – Japan Tobacco International (JTI) has officially commenced the construction of its pioneering Green Factory in North and West Africa, marking a significant milestone in the company's sustainable development journey. Strategically situated in the Tetouan Park......

ONDA Reports Double-Digit Growth in Passenger Numbers and Aircraft Movements Morocco's airports have experienced unprecedented growth in passenger traffic during the first half of 2024, as reported by the Office National des Aéroports (ONDA). The number of passengers soared by 19% compared......

In a significant economic development, Morocco's inflation rate has shown signs of stabilization, registering an annualized growth of 2.4% at the close of June 2024. This figure marks a substantial improvement from the tumultuous period that began in November 2022, when inflation started an upward......

New Facility Aimed at Boosting Domestic and International Steel Production Riva Industries, a prominent Moroccan steel manufacturer, has inaugurated an advanced industrial complex in Jorf Lasfar with an investment of approximately 2.9 billion dirhams ($290 million). This cutting-edge facility is set......

Draa Tafilalet Oasis. The Moroccan Tourist Engineering Society (SMIT) has announced an ambitious $1.7 billion plan to position Draa Tafilalet as a premier ecotourism destination in Morocco. Unveiled by SMIT President Imad Barrakad during a Development and Solidarity Council meeting in Rabat on July......

Belgian construction firm Macan Group has announced a significant investment initiative, pledging MAD 1.5 billion (approximately €135 million) over the next five years to expand its operations in Morocco. Since its initial foray in 2015, Macan Group has viewed Morocco as a prime location for long-term......