Over the first ten months of 2020, the net flow of Foreign Direct Investments (FDI) in Morocco has further deteriorated to reach 11.69 billion dirhams, a drop of 31.2% compared to the end of October 2019. This is the result published by the Foreign Exchange Office in its bulletin on foreign trade indicators for October 2020.
The Moroccan government is coming back to the fore, for the effective implementation of national preference, after a first call that went unheeded. This is the best way to cope with this unprecedented economic crisis, as operators in the Kingdom have never ceased to hammer home.
As of the end of September 2020, the number of beneficiaries of the deferral of the maturities of real estate and consumer loans for people impacted by the health crisis related to Covid-19 , put in place on March 19 by the Economic Monitoring Committee, reached 471,742 households in the Kingdom. At the same time, 32,248 requests from companies were validated by the banking sector.
Harley Davidson is withdrawing from the kingdom to position itself in other countries. The big concern of the moment, what will become of the maintenance and refurbishment of the motorcycle fleet in Morocco?
Catering professionals are concerned about a possible partial or total re-containment, like the European countries, such as France, Spain and Belgium, which have already been re-contained. A re-containment will once again put the Moroccan economy in jeopardy, according to several analysts.
The tourism budget presented by the supervisory ministry for this year is down. But the main investments, in particular the extension work on the airport terminals, have been maintained.
Many thought the health crisis would be much more profitable for video game sellers, but that is not the case. The daily Assabah confirms this after its visit to the joutiya of Derb Ghallef, one of the meeting points for video game enthusiasts.
The closure of the two border posts of Bab Sebta and Melilla is the cause of the misery affecting thousands of Moroccan families. The mythical Derb Ghalef market in Casablanca, which alone generates more than 20 billion dirhams in annual turnover, is on the brink of collapse.
The closure of Morocco’s borders has exposed the role of the black market in the north of the country. It is a provider of unsuspected jobs and fortunes.
The impact of the health crisis is likely to be even more severe for those already living in poverty. On the eve of the presentation of the Finance Act and World Day to Combat Poverty, Oxfam Morocco calls for strong measures.
After more than 7 months of inactivity, and with prospects still not looking good, many Moroccan hotel establishments are preparing to part with all or part of their staff. The only way to salvation, the opening of borders and inter-city travel.
Tourism Minister Nadia Fettah Alaoui says that the projects to resume tourism in Morocco, including the abolition of the PCR test requirement, are under evaluation. This was during the videoconference organized by the CFCIM last Thursday.