Economy
Morocco's unemployment rate has escalated to 13.1% in the second quarter of 2024, according to the latest report from the Moroccan High Commission for Planning (HCP). This figure represents a 0.7 percentage point increase from the 12.4% recorded in the same period of 2023, highlighting a concerning......
In 2024, French buyers have discovered a treasure trove of affordable real estate opportunities in Morocco, with apartment prices starting as low as €42,000 and properties outside major cities averaging €600 per square meter. Morocco has emerged as a favored destination for French property......
In a significant move to commemorate the 25th anniversary of King Mohammed VI's reign, Bank Al-Maghrib has introduced a new 50 dirham banknote that underscores Morocco's dedication to sustainable development. This fresh currency, infused with striking illustrations, reflects the nation's......
Ambitious Project to Strengthen Morocco's Rail Connectivity and Economic Growth In a decisive move to enhance its transportation infrastructure, Morocco's National Office of Railways (ONCF) has awarded a significant contract to a consortium led by the French engineering firm Egis Rail, in partnership......
In a groundbreaking initiative aimed at bolstering international trade and economic cooperation, the Australia Morocco Business Network (AMBN) has launched in Adelaide, marking the first organization dedicated to promoting bilateral trade between Australia and Morocco. This strategic move promises to......
In an extraordinary shift, Morocco's cannabis industry has seen explosive growth following the government's decision to lift a long-standing ban. The National Agency for the Regulation of Cannabis-Related Activities (ANRAC) has reported a remarkable increase in the number of licenses issued for......
In a striking development, McDonald’s outlets in Morocco have witnessed a dramatic 35% decline in customer visits over the past eight months, according to sources cited by local media. This significant drop underscores the multifaceted challenges the fast-food chain is currently grappling with,......
CIH BANK Unveils Innovative Remote Banking Service for Moroccan Expatriates In a groundbreaking move, CIH BANK has launched CODE 212, a cutting-edge remote banking service designed to cater to the needs of Moroccans living abroad. This innovative service allows users to open and manage bank accounts......
Despite facing a tapestry of challenges, Morocco's economy demonstrated resilience in 2023, achieving a 3.4% growth rate. This was detailed in the Bank Al-Maghrib's annual report, presented to King Mohammed VI on Monday. The report from Morocco’s central bank provided a comprehensive overview......
In a significant move that could reshape Morocco's economic landscape, Bank Al-Maghrib (BAM), the country's central bank, is expected to implement additional cuts to its policy rates during the latter half of 2024. This forecast, put forth by Fitch Solutions, suggests a continuation of the monetary......
In a landmark development, Morocco and the United Arab Emirates (UAE) have concluded negotiations for a comprehensive economic partnership agreement (CEPA), setting the stage for a new era of bilateral economic cooperation. Officials announced the finalization of the agreement's provisions on Monday,......
In a significant move to bolster water security, the Moroccan city of Dakhla has allocated nearly MAD 250 million ($25 million) for projects aimed at enhancing its potable water supply and wastewater management systems. This substantial investment was announced during a ceremony marking the 25th anniversary......
Morocco has embarked on an ambitious infrastructure project with the commencement of construction on a $139 million viaduct in Laayoune. This significant undertaking is a pivotal component of the Tiznit-Dakhla expressway project, designed to enhance connectivity and bolster the region's infrastructure. On......
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