Morocco
Morocco's Exports Plummet 20% Amid Global COVID-19 Disruptions
Covid-19 and the restrictive measures put in place have caused a drop in Morocco’s foreign trade. This is evidenced by the figures published by the Office of Foreign Exchange.
Topic
Deficit
Morocco
Morocco Faces 7.5% Budget Deficit Risk as COVID-19 Impacts Economy
Morocco could record a budget deficit due to the covid-19 pandemic crisis. The main financial institutions in the kingdom are sounding the alarm on this risk, which can drive up interest rates.
Morocco
S&P Global Ratings Affirms Morocco's 'BBB-' Investment Grade Credit Rating
A few months after Fitch and Moody’s, the rating agency S&P Global Ratings has also confirmed at the "Investment grade" level, the "BBB-" rating of Morocco’s long-term foreign currency and local currency debt with a stable outlook.
Morocco
Morocco's Chinese Tea Imports Plummet 46% Amid COVID-19 Pandemic
During the first quarter of this year, a record drop of more than 46% in imports of Chinese tea was observed compared to the first quarter of 2019.
Morocco
Morocco's Royal Air Maroc Faces Financial Crisis as Government Weighs Rescue Options
Faced with the multiple debts of Royal Air Maroc (RAM), severely affected by the covid-19 crisis, the Moroccan state is called upon to react quickly to avoid disaster.
Morocco
Morocco's Tourism Bookings Plummet 98% Amid COVID-19 Crisis
The tourism sector is severely affected by the health crisis due to covid-19 and the preventive measures taken to fight its spread, such as the closure of air borders, the cancellation of bookings, the closure of places of entertainment and others. According to ONMT sources, "Bookers" went from 31% between January 1, 2020 and February 28, 2020 to -98% from April 1, 2020 to April 13, 2020.
Morocco
Morocco's Economic Growth Slows to 0.7% in Q1 2020 Amid Poor Crop Yields
The most recent data collected by the High Commission for Planning up to April 20 show a more pronounced slowdown in activity during the first quarter of 2020, with economic growth receding to +0.7%, instead of +1.1% set on April 7, based on information collected up to March 31.
Morocco
Morocco's Construction Industry Seeks Government Aid Amid COVID-19 Crisis
Construction professionals have written a letter to the Head of Government. The objective is to seek help to cope with the impacts of the coronavirus health crisis that is shaking their sector of activity.
Morocco
Mortgage Rates Plummet in Morocco, Sparking Real Estate Investment Hopes
The real estate credit sector is bearing the brunt of the current crisis, to the delight of solvent customers who find themselves advantaged by the drop in benchmark rates never before recorded.
Morocco
COVID-19 Pushes 300,000 Moroccans Below Poverty Line, 10 Million at Risk
The covid-19 pandemic will increase the poverty rate in Morocco by one percentage point. This is information revealed by a report jointly prepared by the United Nations Development Programme (UNDP), the United Nations Economic Commission for Africa (UNECA) and the World Bank.
Morocco
Moroccan Banks Face Credit Crunch as COVID-19 Lockdown Impacts Economy
Banks and consumer credit companies are going through difficult times due to confinement. Professionals in the sector explain that credit production is recording worrying declines since the declaration of the state of health emergency.
Morocco
Coronavirus Disrupts Supply Chain for Casablanca's Major Commercial Hub
The halt of Chinese exports due to the coronavirus is not helping the business of "Derb Omar", the commercial district of Casablanca . There is great concern for the turnover of the users of this giant shopping center if solutions are not found very quickly to counter the virus.