Economy
Sonasid, Morocco’s leading steel manufacturer, has announced a remarkable net profit of MAD 151 million ($15.1 million) for the fiscal year 2024, representing a substantial 91% increase compared to the previous year. This impressive performance marks the best results the company has achieved since......
Doubts linger regarding the feasibility of the proposed tunnel between Spain and Morocco. To gather comprehensive data on the viability and costs of this megaproject, new studies have been commissioned to a German firm. The Spanish public company Ineco recently issued a call for tenders for the "feasibility......
The World Bank has approved a substantial $600 million to support the final phase of Morocco's human capital development program, aimed at enhancing national resilience and social welfare. This funding initiative focuses on four critical areas: strengthening resilience to health risks, improving......
Ryanair has announced its plans to launch a new flight route connecting Manchester, UK, to Rabat, Morocco, set to commence on March 30. This new service will operate twice weekly, marking Rabat as the fifth Moroccan destination accessible via direct flights from the northern English airport. With this......
During the sacred month of Ramadan, supermarkets experience a remarkable influx of shoppers, transforming these spaces into bustling hubs filled with anticipation, established habits, and a certain frenzy of purchasing. In Rabat, as in other locations, consumers flocked to stores from the very first......
In a significant move to bolster the textile industry, Moroccan Prime Minister Aziz Akhannouch presided over the signing of an investment agreement with the Chinese conglomerate Sunrise Group on March 20, 2025, in Rabat. This partnership aims to enhance the competitiveness of Morocco's textile sector......
The reconstruction efforts following the Al Haouz earthquake have made significant strides, with over 33,600 families having completed the reconstruction of their homes. Currently, 52,669 residences remain under construction. The government highlights notable advancements across various sectors, including......
Morocco's government is embarking on an ambitious plan to balance economic stability with essential social welfare investments. Minister of Economy and Finance, Nadia Fettah, recently announced that the country’s budgetary programming for 2025-2027 will prioritize reducing the budget deficit......
Spain’s second-largest bank, BBVA, has received approval from Morocco's central bank, Bank Al-Maghrib, for the indirect change in control of Banco Sabadell’s operations in the country. This development marks a significant step in BBVA's broader strategy to enhance its presence in......
The International Monetary Fund (IMF) has announced the approval of a $496 million disbursement to Morocco under the Resilience and Sustainability Facility arrangement. This marks the third tranche of funding, bringing the total disbursed to approximately $1.24 billion. The announcement highlights Morocco's......
The Moroccan economy has demonstrated resilience in the face of negative shocks, showcasing the strength of the Kingdom's economic policies and frameworks, according to Kenji Okamura, Deputy Managing Director and Acting President of the International Monetary Fund (IMF). In a statement issued in......
Morocco is advancing its ambition to modernize airport infrastructure with the announcement of a new international airport in Marrakech. This initiative is part of the strategic plan "Airports 2030," aimed at addressing the challenges posed by the growing tourism sector and preparing for the......
Morocco has firmly established itself as Spain’s foremost African trading partner, achieving remarkable bilateral trade figures in 2024. Recent data from the Spanish Ministry of Economy, Trade and Enterprise reveals that trade between the two nations surged to €22.7 billion, marking a significant......
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