Finance & Economy

The Moroccan economy is expected to contract by -7% in 2020 before rebounding with 4.9% growth in 2021, according to new projections from the International Monetary Fund (IMF). In its biannual world economic outlook report released on Tuesday, the IMF estimates unemployment is expected to stand at 12.5% ​​in 2020 …

The Wali of Bank Al-Maghrib (BAM), Abdellatif Jouahri, maintained his position, for the fourth consecutive year, in the top 10 of the best central bankers, according to the latest ranking of the American magazine Global Finance. It earned an A rating, the best awarded by the New York magazine in …

The European Union has kept Morocco on its gray list of tax havens, updated on October 6. The kingdom’s case may not be analyzed again “before February 2021”, on the basis of “the various decisions of the European Commission” due to the pandemic linked to the new coronavirus. Indeed, for …

Morocco will reach a production of 140,000 tonnes of olive oil. It will thus be the fifth largest producer in the world. Spain will be the largest producer of olive oil with 1,510,000 tonnes, or 49% of world production, with Italy in second place with production of 280,000 tonnes (9%). …

The Standard & Poor’s rating agency downgraded Morocco to BBB- with a negative outlook in its last assessment. In October 2019, the Kingdom’s rating was BBB- with a stable outlook, recalls S&P. Morocco’s outlook has been revised to “negative” due to increased debt and external needs during the Covid-19 pandemic, …

Morocco wants to issue a bond loan on the international market for an amount not yet communicated with two maturities of 5 and 10 years. Bloomberg announced that the kingdom has mandated four investment banks to assist in this debt raising. These are Barclays, BNP Paribas, Natixis and JP Morgan. …

As part of the showdown between Mosaic Company against OCP and the Russian group PhosAgro, American companies are expressing their opposition to the American producer’s plea to introduce taxes on phosphate imported by the United States. So, in a press statement, Kent Kaiser, executive director of the Trade Alliance to …

EDF, one of the world leaders in renewable energies, and Mitsui & Co. Ltd., an international trading and investment group with a diversified portfolio of activities, are launching the 1st phase of the Taza wind farm, located around 15 km northwest of the city of Taza in northern Morocco. This …

Morocco intends to take advantage of all the opportunities offered by the crisis to become the most competitive automotive hub in the world, said Minister of Industry, Trade, Green and Digital Economy, Moulay Hafid Elalamy. Emphasizing the imperative to take advantage of the global crisis, the minister indicated in an …

The Department of Agriculture’s Strategy and Statistics Branch conducted a survey on grain yields among producers. It shows that the final production of the three main cereals for the 2019-2020 season has fallen by 57%. The area sown for this 2019-2020 cereal season is estimated at 4.34 million Ha. These …