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Economy
A recent survey by Morocco's High Commission for Planning (HCP) reveals a stark economic reality facing Moroccan households, with only 11.1% expressing optimism about their ability to save in the coming year. The overwhelming majority - 88.9% of families - see no possibility of building savings as......
Morocco is increasingly being recognized as a prime destination for investments in the critical minerals sector. In a recent statement, the Minister for Energy Transition and Sustainable Development, Leila Benali, highlighted the country's strategic position in the global market. Speaking at a roundtable......
Morocco's commitment to public investment has shown remarkable growth, with allocations rising from MAD 52.3 billion ($5.1 billion) in 2015 to MAD 119.2 billion ($11.6 billion) in 2023, according to Zineb El Adaoui, First President of the Court of Accounts. In her presentation to parliament's......
African nations are poised for significant economic transformation through the African Continental Free Trade Area (AfCFTA), with projections showing a potential 7% increase in continental GDP by 2045, equivalent to $450 billion in growth. The initiative aims to create a unified market across 54 states......
Moroccan scientist Rachid Yazami has obtained a new patent in China for his innovative safety technology designed to prevent internal short circuits in electric vehicle (EV) batteries. The patent, originally filed in May 2019, represents a significant advancement in battery safety technology. Yazami......
Spain and Morocco's bilateral trade has shown remarkable growth in the first ten months of 2024, according to recent data from the Spanish State Secretariat for Trade. Spanish exports to Morocco reached €10.843 billion, marking a 6.8% increase, while Moroccan exports to Spain grew by 9.1% to......
Morocco has solidified its position as Spain's primary source of fresh fruits and vegetables, with exports reaching EUR 801 million between January and October 2024. This represents a significant 13% growth compared to the same period in 2023, according to Hortidaily reports. Spanish fresh produce......
Religious pilgrims in Morocco are grappling with a dramatic increase in Umrah package costs, with prices soaring up to 50% compared to previous years. The price hike affects travel packages to the holy cities of Mecca and Medina during the spiritually significant months of Shaban and Ramadan. According......
Morocco's Minister of Energy Transition and Sustainable Development, Leila Benali, presented an ambitious new sustainable mining initiative at the 4th International Mining Ministers Meeting in Riyadh. The proposal, dubbed the "OTC Corridor" (Origin, Transit, and Certification), aims to......
The Islamic Center for Development of Trade (ICDT) will convene its 23rd annual meeting of Economic Advisors from Organization of Islamic Cooperation (OIC) member states on January 23 in Rabat, Morocco. The gathering brings together diplomatic representatives to discuss trade initiatives and economic......
Morocco's domestic demand demonstrated remarkable strength in the fourth quarter of 2024, posting a 5.4% increase and emerging as a key driver of the nation's economic expansion, according to Morocco's High Commission for Planning (HCP). This robust domestic performance contributed significantly......
Morocco's comprehensive fiscal reforms have driven remarkable growth in tax revenue, reaching MAD 299 billion ($29.5 billion) in 2024, marking a significant increase from MAD 199 billion ($19.5 billion) in 2020. This surge in revenue has enabled substantial investments in social welfare programs,......
A recent analysis by the US National Intelligence Council highlights Morocco as one of the nations expected to experience significant economic growth in the coming years, joining the ranks of emerging "economic tigers." This term refers to countries that are poised for rapid economic transformation,......
