Tourism Minister Nadia Fettah Alaoui invited Thursday investors to work for the revival of the tourism sector and to build a more sustainable tourism industry after the health crisis.
Moroccan tourism continues to suffer the consequences of the health crisis. For the month of January 2021, the sector recorded a 67.2% drop, representing a loss of 4.5 billion dirhams.
Morocco’s economic growth in 2021 is dependent on the successful rollout of the mass vaccination campaign against Covid-19, which should allow the country to reach herd immunity and lift the current restrictive measures. The expected economic recovery in the second half of the year could be delayed if this objective is not achieved.
Lesieur Cristal has been facing, for a few days, on social networks, a boycott campaign, following the rise in the prices of its cooking oil. In a press release addressed to its customers and partners, the company justifies the reasons for this measure.
Cement sales are down. At the end of January, sales fell by 12.3% compared to last year, a loss of 1,037,005 tons. The construction sector seems to be bogged down, with a 10% drop recorded at the end of last year, compared to a 2.6% increase a year earlier.
The House of Councillors has just voted a law to reduce the tax fines on checks from 20% to 1.5% of the check amount. Only people affected by the health crisis are concerned by this measure.
Ceuta and Melilla are experiencing a severe economic crisis since the closure of the borders with Morocco on March 20, 2020. The two Spanish enclaves can no longer stand this situation which has led to the halt of the informal trade that benefits the majority of the populations.
Despite the health crisis, tobacco consumption in Morocco has not decreased. In 2020, 759 million packs of cigarettes were sold, an increase of 4.5% compared to the previous year.
Six months after the launch in June of the project to build the commercial free trade zone in Fnideq , the work had been suspended due, among other things, to the health crisis. Today, after two months of suspension and in the face of street pressure, the work will resume.
The country risk assessment carried out by the credit insurer Coface in 162 countries to analyze the risk of corporate defaults reveals that Morocco is currently at a rather high risk. This study comes in a particular context related to Covid-19, which has forced governments to rescue the economic fabric.
After the demonstrations that broke out on Friday evening in Fnideq and also in Tetouan, the Attorney General’s Office of Tetouan initiated legal proceedings on Monday against four defendants. The government, for its part, must seek lasting solutions to this rising revolt that risks igniting other regions of the kingdom.
More than six months after the dismissal of Royal Air Maroc’s airline pilots, the national carrier will announce a new wave of layoffs. Nearly 177 cabin crew (PNC) members of its subsidiary Atlas Multiservices (AMS) have received their dismissal letter for economic reasons.