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Economy
The Office National des Chemins de Fer (ONCF) swiftly addressed today's misleading reports suggesting a Chinese company was set to secure the contract for constructing the new high-speed rail line connecting Marrakech to Agadir. In a decisive press statement, the national railway operator clarified......
During a ministerial conference in Rabat, Morocco's Foreign Minister, Nasser Bourita, fervently championed the cause of middle-income countries (MICs), labeling them as an often disregarded "engine of the global economy." Bourita highlighted a significant discrepancy: while MICs account......
In 2023, Morocco witnessed a staggering blow to its job market as drought conditions wreaked havoc on the agriculture sector, historically the nation's primary employer. Unemployment soared to 13%, a rate not seen in over two decades, according to a recent report by the Higher Commission of Planning......
In a significant move aimed at enhancing cooperation in the social insurance sector, Morocco’s state-owned financial institution, Caisse de Dépôt et de Gestion (CDG), has entered into a Memorandum of Understanding (MoU) with Saudi Arabia’s General Organization for Social Insurance......
Minister of Economy Nadia Fettah Alaoui assured Moroccan citizens on Tuesday that the government's tax overhaul for 2024 will not diminish their purchasing power. Addressing concerns raised by the Supreme Audit Board before parliament, Nadia Fettah Alaoui confidently stated that the proposed VAT......
Morocco's automotive industry is experiencing rapid acceleration, evidenced by a remarkable 27% surge in exports in 2023, reaching $13.9 billion, as reported by the nation's foreign trade regulator. The North African kingdom has firmly established itself as a continental leader in car manufacturing,......
In 2023, remittances from Moroccan expatriates reached an all-time high of nearly 115.15 billion Moroccan dirhams ($11.5 billion), as reported by the country's Foreign Exchange Office. This figure marks a notable 4% increase compared to the previous year, underscoring the robust economic ties between......
Morocco's trade deficit, a longstanding concern, is displaying promising signs of improvement as the nation experiences a convergence of factors including a decrease in energy and food prices alongside an increase in export values. According to a recent report from Morocco's Office des Changes,......
In a move set to turbocharge Morocco's industrial sector, the Moroccan Agency for Investment and Export Development (AMDIE) has forged a groundbreaking partnership with the International Finance Corporation (IFC). This collaboration, aimed at enticing foreign investments and bolstering Moroccan companies'......
The Asia Pacific Group on Money Laundering (APG) is set to convene its annual meeting in Abu Dhabi, UAE, marking the first time the UAE will host this significant gathering. Scheduled from September 22 to 27, 2024, the event is anticipated to draw more than 400 officials and experts specializing in anti-money......
In a significant move towards sustainability, Morocco is charting a green course with its central bank spearheading the effort. Abdellatif Jouahri, the governor of Bank Al-Maghrib, Morocco's central bank, announced on Friday the ambitious goal of increasing the allocation of foreign currency reserves......
Morocco is solidifying its position as a leader in renewable energy with the imminent commencement of operations at its new wind turbine blade production facility. In a significant milestone, Chinese manufacturer Aeolon recently inaugurated the facility in the city of Nador, marking a monumental investment......
The enduring conflict between Morocco's largest transportation unions and the Ministry of Transport and Logistics persists, with the unions adamantly opposing proposed reforms to the regulations governing commercial road freight. Central to the disagreement are new stipulations outlined in a pending......