Economy
Thousands of Spanish drivers are flocking to Morocco for vehicle repairs, drawn by dramatically lower costs for labor and parts. The trend has grown rapidly as drivers combine holidays with essential maintenance, capitalizing on Morocco’s affordable and efficient automotive services. A booming......
His Majesty King Mohammed VI, accompanied by Crown Prince Moulay El Hassan and Prince Moulay Rachid, received Abdellatif Jouahri, Governor of Bank Al-Maghrib, at the Royal Palace in Tetouan on Tuesday. Jouahri presented the central bank’s annual report, outlining Morocco’s economic, monetary,......
In his Throne Day speech commemorating the 26th anniversary of his ascension to the throne, His Majesty King Mohammed VI outlined Morocco's significant economic transformation and progress in addressing water security challenges. The monarch emphasized the nation’s achievements in industrial......
Morocco’s beer production has experienced a notable decline, positioning the country as a modest player in regional and global beer markets. A recent report by BarthHaas, a leading global hops supplier, revealed that Morocco produced 818,000 hectoliters of beer in 2024, a drop from 835,000 hectoliters......
Portugal is considering an electrical interconnection with Morocco as part of its €400 million energy security plan, aiming to strengthen its power grid and prevent major blackouts like the one that affected the Iberian Peninsula in June. During a press conference on Monday, Portugal’s Minister......
Hyundai Rotem has expressed strong interest in contributing to Morocco’s comprehensive railway expansion under the country’s Rail Plan 2040. Jeong Hoon Kim, Head of Real Solutions at Hyundai Rotem, hailed Morocco's stable business environment and its growing appeal to foreign investors. Speaking......
OCP Nutricrops has announced a major milestone in its fertilizer production, surpassing five million tonnes of Triple Super Phosphate (TSP) fertilizer. This achievement is attributed to the company's innovative TSP Hub program, which operates at the Jorf Lasfar industrial platform in Morocco. Advancing......
Morocco’s central bank, Bank Al Maghrib (BAM), revealed a 2.7% decrease in non-performing loans (NPLs) at Moroccan banks, bringing the total to MAD 97.4 billion ($10.86 billion) in 2024. This marked a slight improvement in the loss rate to 8.4%, down 0.1 percentage points from the previous year,......
The microcredit sector in Morocco continues its upward trend, with total outstanding loans reaching 9.5 billion dirhams by the end of 2024, according to the latest report by Bank Al-Maghrib (BAM). This marks a 9.4% increase compared to the previous year’s growth of 4.2%. Over 98% of these loans......
Royal Air Maroc (RAM) has expanded its fleet with the delivery of two Boeing 737 MAX 8 aircraft, marking a significant step in the airline's growth strategy. The new planes, received on Thursday, are part of the company’s broader plan to modernize its operations and prepare for major international......
Morocco's trade exchanges with global markets recorded a notable increase of 6.3% in 2024, yet Europe retained its position as the country's dominant trade partner, despite a modest decline in its overall share. New data from Morocco’s Exchange Office reveals that European partners accounted......
Morocco’s fuel distribution market remains under the tight control of nine major companies, which collectively generated a net profit of MAD 2.3 billion ($230 million) in 2024, according to a newly released report from the Competition Council. Despite signs of market diversification, these distributors......
Morocco has taken a major step toward transforming its aviation sector with the signing of a $3.7 billion agreement to upgrade and expand the country’s airport infrastructure. The deal, signed by Prime Minister Aziz Akhannouch and the National Airports Authority (ONDA), outlines an ambitious five-year......
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