Morocco
Morocco Sees 22% Drop in Business Failures Amid Pandemic, Lowest Since 2015
In 2020, 6,612 business failures were recorded in Morocco. According to Inforisk, this is the largest drop noted in recent years.
Topic
Economic crisis
Morocco
Moroccan Border City Fnideq Faces Economic Crisis, Residents Demand Recovery Plan
The civil society of Fnideq calls for the implementation of an "urgent economic recovery plan to save the city". This plan must take into account the reopening of borders and the acceleration of the construction of the city’s free zone.
Morocco
Morocco's Franchise Sector Struggles Amid Economic Downturn and Job Cuts
Several events are slowing down the franchise and organized retail sector in Morocco. With the announcements of staff reductions and bankruptcy filings by multinational firms and large groups, the hopes of the sector are increasingly compromised.
Morocco
Morocco's Budget Deficit Hits 7.6% of GDP Amid COVID-19 Economic Challenges
The Ministry of Economy, Finance and Administrative Reform indicated that at the end of December 2020, the Amended Finance Act (LFR) revealed a budget deficit of 82.4 billion dirhams (MMDH) or 7.6% of GDP. This despite a number of uncertainties and in compliance with the State’s commitments under the strategy to support social and economic sectors and post-Covid recovery.
Morocco
Moroccan Restaurant Industry Calls for Government Aid Amid Ongoing Crisis
Through a letter addressed to several authorities, the Moroccan Confederation of Food Trades (CMMB) defends the interests of the restaurant sector, which has been severely affected by the health crisis. It wishes that this sector be taken into account in the national economic recovery plan.
Belgium
Morocco Unveils Plan to Boost Diaspora Investment and Economic Ties
The Delegate Ministry in charge of Moroccans Living Abroad and the General Confederation of Moroccan Enterprises (CGEM) held a meeting last Wednesday as part of the development of a national strategy for the benefit of Moroccans abroad (MREs).
Morocco
Morocco's Unemployment Rate Could Soar to 15% in 2021, UN Report Warns
The coronavirus pandemic has not finished ravaging the world of employment in Morocco . A recent report by the Economic and Social Commission for Western Asia (ESCWA) revealed that unemployment could reach 15% in Morocco in 2021.
Morocco
Morocco's Tourism Transport Sector Seeks Government Aid Amid COVID-19 Crisis
Heavily impacted by the effects of the health crisis, tourism transport professionals are crying out in distress. During a second meeting with officials from the Ministry of Tourism in the presence of the Professional Group of Banks of Morocco , they called on the government to take urgent and realistic measures to relieve companies of financial pressures, while involving them in the decision-making process.
Morocco
Morocco's Auto Industry Rebounds After COVID-19 Slump, Still Faces 15-20% Decline
The performance expected in 2020 in the automotive sector was quickly drowned with the arrival of Covid-19. However, the three months following the post-lockdown period made it possible to get back on track, according to Adil Bennani, president of the Association of Automotive Vehicle Importers in Morocco.
Morocco
Morocco's Chocolate Industry Hit Hard as Holiday Sales Slump Amid Economic Crisis
Every year-end, the Moroccan chocolate market experiences its peak. But this year, due to the health crisis, Moroccans seem to have shunned this little pleasure.
Morocco
COVID-19 Crisis Could Push 1 Million Moroccans into Poverty, Study Finds
Moroccans working in the informal sector, 80% of whom have no social coverage, could find themselves in even greater precariousness. This is revealed by a study carried out by the think tank Policy Center for the New South (PCNS).
Morocco
Luxury Car Sales in Morocco Defy Economic Downturn, Report Shows
While the health crisis has dealt a serious blow to the automotive market, it has not dampened the enthusiasm of Moroccans for luxury cars.