The Arab Monetary Fund (AMF) is coming to the rescue of Morocco in its desire to revive the economy, whose growth is severely disrupted by the current health crisis. It has just granted the kingdom a loan estimated at $127 million.
After the success of the first phase of contribution to the covid-19 fund, a second phase is necessary to relaunch the national economy, according to Omar Kettani, professor of economics at the University Mohammed V in Rabat.
The High Commission for Planning (HCP) has updated its main quarterly forecasts for the first half of 2020. The note presents the new estimates of economic growth for the first quarter of 2020 and discusses the forecasts for the second quarter.
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.
The situation of Treasury charges and resources shows a budget surplus of 6.3 billion dirhams at the end of March 2020, compared to a budget deficit of 4.5 billion dirhams last year. This is the announcement made by the General Treasury of the Kingdom (TGR).
Morocco can count on its good management of the pandemic to preserve its achievements with the rating agencies. Despite the health crisis and its negative effects on the national economy, the kingdom has managed to maintain its rating with Standard & Poor’s.
The coronavirus pandemic is hitting Morocco’s economic growth hard. This growth is down 1.1% in the first quarter.
A survey conducted by the Moroccan Confederation of VSEs-SMEs revealed that the two sectors most affected by the pandemic are business services and trade. They top the ranking with 21.9% and 20.6% respectively of a representative sample of 1,080 companies.
In a note devoted to Morocco, the rating and financial evaluation agency believes that the country is making efforts to face internal and external shocks. For it, even if the current crisis is fraught with many repercussions, the Moroccan economy will be able to count on certain sectors to provide it with a breath of fresh air.
Despite the rise in the energy bill, the Cosumar group reports an improvement in its results and talks about its future Saudi plant.
The Moroccan Business Climate Council (CMC) looked at the economic shock caused by the coronavirus (covid-19) pandemic. In an analysis, the CMC noted that the pandemic has disrupted the global economy and installed a climate of terror and fear.
The scarcity of rainfall and the Coronavirus will not fail to weigh heavily on the Moroccan economy. In its growth forecasts for the year 2020, the High Commission for Planning (HCP) plans to revise its figures downward.