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Economy


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......

Morocco Invests Billions in Cash Surpluses

The Moroccan government finds itself in a favorable financial position, boasting surplus funds that are not lying dormant. The Treasury and External Finance Department, a branch of the Ministry of Economy and Finance, took decisive action this week by channeling an impressive 20.75 billion Moroccan dirhams......

Morocco Implements Sweeping Changes to Liberalize Foreign Exchange Rules and Stimulate Business Growth

Rabat - In a significant move, the Moroccan government has enacted comprehensive reforms aimed at removing constraints on foreign exchange transactions and enhancing the efficiency of international business operations. Effective from January 2nd, the new General Instruction on Foreign Exchange Operations......

New Opportunity for Moroccans to Declare Foreign Assets

The Moroccan Foreign Exchange Office has introduced a year-long window for residents to disclose their previously unreported assets held abroad. The "Spontaneous Regularization Operation 2024” enables individuals and companies to anonymously step forward, paying a fixed penalty fee to legitimize......

Facilitating Customs Dispute Resolution to Bolster Trade Confidence

Recent amendments to Morocco’s customs code aim to streamline litigation procedures for questionable goods not physically seized. By easing the transaction process for these disputed items declared openly without seizure, customs authorities hope to boost tax and duty recovery while still protecting......

Streamlining Customs: Morocco's 2024 Finance Law Enhances Trade Facilitation

Morocco's Customs procedures receive a significant facelift with the enactment of the 2024 Finance Law, introducing crucial amendments to the Customs Code. The implementation of streamlined electronic declaration procedures is poised to propel international commerce, allowing operators to submit......

Abdellatif Jouahri Recognized as Best Central Banker in Africa

Abdellatif Jouahri, the Governor of Bank Al-Maghrib, has been honored as the "Best Central Banker in Africa for 2024" by "The Banker," a London-based financial and international affairs magazine affiliated with "The Financial Times" group. The prestigious "The Banker's......

Automobile Exports Sustain Impressive Momentum, Driving Economic Surge

In a remarkable display of resilience and growth, the automotive sector's exports surged to over 130.64 billion DH by the end of last November, marking a substantial 30.2% year-on-year increase, as reported by the Office of Foreign Exchange. This surge finds its roots in the expanding sales within......

Morocco Unveils DHAP: A Bold Move Towards Affordable Homeownership

On January 2nd, a momentous occasion unfolded as the online registration platform for Morocco's Direct Housing Aid Program (DHAP) was officially inaugurated. This groundbreaking initiative, unveiled by Fatima Zahra El Mansouri, Minister of National Planning, Urbanism, Housing, and City Policy, is......

Morocco's General Directorate of Taxation Unveils Ambitious 2024-2028 Strategic Plan

Morocco's General Directorate of Taxation (DGI) has outlined its ambitious goals for the next five years through its newly unveiled 2024-2028 strategic plan. Building upon the successes of its prior 2017-2021 strategy, the DGI seeks to fortify tax collection, encourage civic duty, modernize processes......