The Regional Directorate of the High Commission for Planning (HCP) of Tangier-Tetouan-Al Hoceima has published a report showing that the Consumer Price Index (CPI) fell by 0.2% during the first eight months of the year in Tangier and Al Hoceima, while it remained stable in Tetouan.
The budget deficit recorded a sharp increase at the end of September 2019, reaching 32.3 billion DH against 26.3 billion in 2018, according to data from the Treasury General of the Kingdom (TGR).
Morocco’s economic growth should reach 2.9% in 2019 according to the Minister of Economy. Mohamed Benchaâboun presented his projections during the Cabinet meeting, which discussed the 2020 Finance Bill. At the same meeting, the Minister also stated that the growth rate of non-agricultural activities should reach 3.3%.
The Ministry of Economy and Finance has published its semi-annual report on the execution of the Finance Act and notes a budget deficit of 21.8 billion dirhams. This situation would result from ordinary resources excluding loan receipts of 173.2 billion dirhams and charges excluding debt amortization of 195 billion dirhams.
At the end of the first half of 2019, the outstanding public external debt increased by 11.2 billion dirhams and stood at 337.8 billion dirhams compared to the end of 2018, with a strong dominance of the euro, according to a statement from the Directorate of the Treasury and External Finance (DTFE).
The turnover of car rental companies did not share the same fate as the tourism sector. Even though tourist arrivals increased during the last summer season, vacationers did not rush to rental cars. The activity, in fact, recorded a decline of around 15% compared to last year.
In Morocco, bounced checks are experiencing a worrying increase. Indeed, these unpaid checks are up 6.4% in number and 12.5% in value compared to last year. Checkbook bans reach up to 670,000 people. The employers’ association, for its part, has already called for tougher sanctions.
According to the General Treasury of the Kingdom (TGR), the situation of the Treasury’s charges and resources shows a budget deficit of 14.1 billion dirhams (MMDH). This is down compared to last year’s data, which showed 15 MMDH for the same period.