Morocco is an example in the post-pandemic economic recovery according to the International Monetary Fund (IMF). The institution has praised the various policies implemented by the kingdom to mitigate the effects of the crisis that has shaken the global economy.
The government has announced that a credit of 16.2 billion DH has been planned in the 2022 Finance Bill to subsidize the prices of butane gas and food products.
Cigarette prices will rise in Morocco from 2022. This is one of the effects of the measures in the 2022 state budget.
At the end of last September, Morocco’s budget deficit has clearly regressed, according to the statement of the Treasury’s charges and expenses. It stood at 38.2 billion DH against 42 billion DH a year earlier.
In order to strengthen the port infrastructure, the National Ports Agency (ANP) has launched the construction of the new terminal cruise terminal at the port of Casablanca. The economic capital is positioning itself as one of the pillars of the country’s tourist attractiveness.
The work on the new industrial zones in Tangier, set up as part of the fight against the informal sector, is progressing rapidly. The first deliveries are scheduled before the end of this year.
In a context marked by an unprecedented health and economic crisis, Moroccan banks have conducted their activities in a resilient manner and are showing satisfactory performance at the end of the first half of this year. The general improvement in performance indicators confirms the effectiveness of the recovery strategy implemented by the Moroccan authorities.
The banking and financial establishments of Moroccan groups abroad have contributed to the profits of their parent companies, allowing them to partially offset the decline in activity recorded in Morocco.
Tanger Med will take the state’s stake in the port operator Marsa Maroc. The announcement was made by the port company and concerns the 35% held by the public authorities.
Even though the Covid-19 pandemic is not over yet, Moroccan business leaders are regaining confidence in the economy. 77% of them believe that the gradual resumption of activities bodes well for their turnover.
The economic recovery will certainly be gradual, but it cannot be delayed. This is the estimate made by the World Bank (WB) in its recent report related to the monitoring of the economic situation in Morocco.
In line with the expected rebound in economic growth in 2021 and 2022, remittances from Moroccans living abroad (MRE) to Morocco are expected to increase by 7.6%, reaching 73 billion dirhams in 2021 and an increase of 2.8% to reach 75.4 billion in 2022.