The trade deficit reached 16.3 billion dirhams at the end of January, an increase of 1.7%, with a coverage rate of 59.8% recorded. A slight increase in imports to 40.7 billion dirhams was also noted, compared to 24.3 billion dirhams for exports.
The Free Trade Agreement (FTA) between Morocco and Turkey was at the heart of the oral question session addressed to the Minister of Commerce by several parliamentary groups. Moulay Hafid Elalamy acknowledged in his response that the FTAs are heavily unfavorable. But Morocco is trying to find a solution to rebalance the trade balance.
The budget deficit recorded, at the end of December 2019, 41.7 billion dirhams, the same amount as the VAT payment arrears.
After a meeting with his counterpart, Moulay Hafid Elalamy, Minister of Industry and Trade announced on Wednesday, January 15, 2020, that Morocco and Turkey will revise their Free Trade Agreement (FTA) due to a trade deficit.
Trade in goods was marked by an increase in the trade deficit to more than -191.81 billion dirhams (MMDH) at the end of November 2019, compared to -187.44 MMDH a year earlier, an increase of 2.3%.
Moroccan companies are facing a lack of qualified personnel, particularly in key sectors.
The Swiss company Clariant has ended decades of industrial presence in Morocco . The company is currently working to settle the accounts of its heavily loss-making Moroccan subsidiary.
The 2nd national television channel has accumulated a financial deficit estimated at 750 million dirhams. Deprived of the right to broadcast on the Nilesat satellite, the channel is paying a heavy price for the sometimes haphazard management within the Ministry of Communication .
The budget deficit stood at 39 billion dirhams (MMDH) at the end of October 2019 compared to 33.4 MMDH during the same period in 2018. The General Treasury of the Kingdom (TGR) announced this in its latest monthly bulletin of public finance statistics.
Morocco’s trade deficit stood at 154.46 billion dirhams (MMDH) at the end of September 2019, compared to 150.83 MMDH in 2018, an increase of 2.6%, according to the Office of Foreign Exchange.
As part of the 2020 Finance Bill, a new provision proposed by the Government provides for an amnesty for holders of funds abroad. This measure will allow a GDP growth rate of 3.7% and reduce the budget deficit to 3.5%.
For the month of September just passed, the dirham appreciated by 0.06% against the euro and depreciated by 0.92% against the US dollar. This is according to Bank Al Maghrib (BAM).