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Economy


U.S. economic growth slows but consumer spending remains strong

The U.S. economy experienced a slowdown in growth during the fourth quarter, though strong domestic demand is expected to keep the Federal Reserve cautious in its approach to interest rate cuts. According to the Commerce Department’s Bureau of Economic Analysis, the gross domestic product (GDP)......

Morocco invests $100 million to tackle rural unemployment

The Minister of Economic Inclusion emphasized that short-term training is crucial for equipping rural job seekers with practical skills. Morocco’s government is preparing to launch a new initiative aimed at addressing unemployment in rural areas, with an allocation of MAD 1 billion ($100 million)......

Moroccans divided on imported red meat, survey reveals

Among Moroccans aware of imported meat but opting not to consume it, 38% favor local products. A recent study conducted by the marketing firm Sunergia and the news outlet L’Economiste provides intriguing insights into Moroccan awareness and opinions regarding imported red meat. The findings highlight......

Morocco ranks second in Africa for renewable energy production

Morocco is making significant strides in renewable energy, emerging as a key player in Africa's sustainable energy landscape. The North African nation's ambitious goals serve as a model for other countries on the continent. A beacon of renewable energy in Africa Morocco is solidifying its position......

UM6P and STATION F join forces to boost Agritech, Greentech, and Healthtech startups

Mohammed VI Polytechnic University (UM6P) has announced a strategic partnership with STATION F, a global startup campus supporting over 1,000 startups. This collaboration aims to foster innovation and bridge the gap between Europe and Africa through a program called NextAfrica. In a statement, UM6P......

Morocco's natural gas production set to begin by late 2025

Morocco is on the cusp of entering the liquefied natural gas (LNG) market, marking a pivotal moment in its quest for energy independence. The Tendrara gas liquefaction facility, developed by British company Sound Energy, is nearing completion in eastern Morocco, with production trials slated to begin......

Empowering cooperatives to reshape agrifood systems in the NENA region

A significant meeting organized by the Food and Agriculture Organization of the United Nations (FAO) and the International Cooperative Alliance (ICA) is currently taking place in Casablanca from January 28 to 31. The event is dedicated to empowering cooperatives to transform rural and agrifood systems......

Morocco's private sector priorities highlighted in meeting with IMF delegation

In a significant gathering in Casablanca, Morocco’s General Confederation of Enterprises (CGEM) engaged with an International Monetary Fund (IMF) delegation to discuss pressing socio-economic priorities. Led by CGEM Vice President Mehdi Tazi, the meeting featured various commission heads and emphasized......

UK appoints new trade envoy to Morocco to strengthen economic ties

The United Kingdom has announced the appointment of Ben Coleman as the new trade envoy to Morocco and West Africa. This decision was confirmed by Jonathan Reynolds, the UK Secretary of State for Business and Trade. Coleman, a British Member of Parliament representing Chelsea and Fulham, will play a crucial......

Moroccan orange exports surge: Record-breaking success in US market

Morocco's citrus industry has achieved remarkable success in 2024, establishing itself as a key orange supplier to the United States and European markets. After facing significant challenges in 2023, the country's orange exports have reached unprecedented levels. According to East Fruit analytics,......

Jorf Lasfar's key role in electric vehicle battery materials production

Jorf Lasfar's industrial port, a cornerstone of Morocco's economy, has reached a significant milestone with the inauguration of the first production lines for Nickel Cobalt Manganese (NCM) used in Precursor Cathode Active Materials (PCAM). This development is driven by Cobco, a subsidiary of......

Moroccan dirham shows mixed performance as central bank boosts financial system

The Moroccan dirham demonstrated varied performance in foreign exchange markets during January 16-22, appreciating 0.6% against the US dollar while declining 0.5% against the euro, according to Bank Al-Maghrib (BAM). During this period, BAM reported no currency auction operations in the foreign exchange......

Currency market performance: Dirham appreciates against the dollar

From January 16 to January 22, 2025, the dirham appreciated by 0.6% against the US dollar and depreciated by 0.5% against the euro, according to Bank Al-Maghrib (BAM). During this period, no foreign exchange auction operations were carried out, as highlighted in BAM's weekly bulletin. As of January......