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Economy


A Simple Emoji Could Land You in Court: Workplace Perils Unveiled!

Emoticons have become an integral part of our professional world to the extent that their use can have serious legal consequences, as a Canadian flax producer learned the hard way. In 2021, the producer responded to a commercial offer with a thumbs-up emoji. The problem? His counterpart interpreted it......

Red Sea Attacks Drive Up Asia-Morocco Shipping Costs by 60-100%

A recent surge in attacks on commercial ships transiting the Red Sea has prompted shipping companies to impose substantial surcharges on Asia-Morocco cargo routes over the past three weeks. According to Rachid Tahiri, president of Morocco's Association of Freight Forwarders, rates for a standard......

Inflation Slowdown Provides Short-Term Relief in Morocco

Morocco's inflation rate saw a welcome decline to 6.1% in 2023, down from the previous year's 6.6%, as reported by the latest data from the country's official statistics agency. This modest deceleration signals a potential respite after two years of steadily rising prices that have strained......

Morocco's Economic Landscape: Resilient Household Spending Amidst Challenges

In the face of a nuanced economic landscape, Morocco demonstrates promising signs of growth, particularly in household consumption, despite encountering various challenges. A recent report from the High Commission for Planning (HCP) projects a 1.2% expansion in household spending during the first quarter......

Morocco Set to Break Records with Unprecedented Imports of Nuts and Dried Fruits in 2023

Morocco's unyielding demand for nuts and dried fruits is reaching unprecedented levels in 2023, with imports of these commodities anticipated to surpass all previous records by year-end. According to estimates from EastFruit, a prominent horticulture platform, Morocco imported a remarkable 66,000......

Akhannouch Tops the Moroccan Media's List of Interests

A recent study, detailed by the electronic newspaper "Walaw," has unveiled Prime Minister Aziz Akhannouch as the foremost concern in the Moroccan media landscape. In the month of December 2023 alone, he garnered attention with an impressive 10,051 articles. Akhannouch's Dominance: According......

Korean Railway Manufacturer Competes for ONCF's Multi-Billion Dollar Rail Contract

The competition for Morocco's Office National des Chemins de Fer's (ONCF) extensive railway procurement contract is escalating as Korean railway manufacturer Hyundai Rotem joins the fray. Hyundai Rotem, a subsidiary of the automotive conglomerate Hyundai Motor Group specializing in rail transport......

Morocco Allocates Excess Cash into Short-Term Investments

In a strategic move, the Moroccan government is actively deploying its surplus funds, committing over 3 billion Moroccan dirhams (equivalent to over $300 million) into short-term debt instruments this week. On Friday, the Treasury and External Finance Department, a division within the Ministry of Economy......

Renewable Energy Opportunities: Green Capital Identifies Four Sites for Projects in Morocco

Morocco is making substantial strides in its ambitious pursuit of renewable energy development and the strengthening of economic ties across Africa, as recently revealed by the Polish renewable energy firm, Green Capital. Green Capital has pinpointed four strategically advantageous locations within......

Moroccan Ports Thrive as European Emission Regulations Backfire

In an unexpected turn of events, the recent implementation of the European Union's Emissions Trading System (ETS) has proven advantageous for Moroccan ports at the detriment of their European counterparts, according to Gerardo Landaluce, the president of the Port Authority of the Bay of Algeciras......

Food Prices Witness a Significant Drop: Global Costs Decline by 13.7% in 2023

Over the past year, food prices worldwide have experienced a substantial decline, offering much-needed relief to consumers and marking a departure from the soaring costs witnessed in 2022. According to data released on Friday by the United Nations' Food and Agriculture Organization (FAO), the global......

Morocco's Economic Outlook Dimmed by Drought Conditions

Morocco is poised to experience a slowdown in economic growth in the upcoming months, as highlighted by the recent report from the country's statistics office, Haut-Commissariat au Plan (HCP). The agency projects a modest annual growth rate of +2.4% for the first quarter of 2024, signaling a decline......

Morocco’s Economic Growth to Slow by 2.4% in First Quarter of 2024

Morocco's economic growth is expected to decelerate in the upcoming months due to prolonged drought conditions severely impacting the farming industry, states a recent report by the High Commission for Planning. According to the report released on Thursday, Morocco's GDP growth is anticipated......