Morocco’s Budget Deficit Soars to 25.5 Billion Dirhams Amid Coronavirus Crisis
17 June 2020
25.5 billion dirhams. This is the deficit recorded in public finances at the end of May, two months after the advent of coronavirus in Morocco.
Deficit
African Airlines Face $8 Billion Loss as Royal Air Maroc Struggles with Debt
9 June 2020
African airlines have lost more than $8 billion due to the Covid-19 pandemic. Royal Air Maroc, also affected by this crisis, is dragging a heavy debt estimated at several tens (…)
African Airlines Face $8 Billion Loss as Pandemic Devastates Air Travel
6 June 2020
The global health crisis has strongly impacted the activities of African airlines. The financial losses are enormous and should amount to $8.103 billion, according to the (…)
Morocco’s Energy Bill Drops 21.8% Amid Falling Oil Prices and Reduced Imports
3 June 2020
Over the first four months of 2020, the energy bill stood at 20.45 billion dirhams (MMDH), down 21.8% compared to the same period in 2019. According to the Office des Changes, (…)
Morocco’s Exports Plummet 20% Amid Global COVID-19 Disruptions
1 June 2020
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.
Morocco Faces 7.5% Budget Deficit Risk as COVID-19 Impacts Economy
22 May 2020
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 (…)
S&P Global Ratings Affirms Morocco’s ’BBB-’ Investment Grade Credit Rating
11 May 2020
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 (…)
Morocco’s Chinese Tea Imports Plummet 46% Amid COVID-19 Pandemic
8 May 2020
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’s Royal Air Maroc Faces Financial Crisis as Government Weighs Rescue Options
2 May 2020
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’s Tourism Bookings Plummet 98% Amid COVID-19 Crisis
30 April 2020
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 (…)