Morocco Reports Sharp Decline in Counterfeit Currency, Central Bank Says
2 August 2021
Bank Al-Maghrib announces a 34% decline in counterfeit banknotes. 6,335 banknotes were seized last year in Morocco.
Economy
Morocco Legalizes Cannabis for Medical and Industrial Use, Establishes Regulatory Agency
2 August 2021
Activities related to the cultivation, production, manufacture, transport and marketing of cannabis can now be carried out legally in Morocco. The Official Bulletin of July 22, (…)
Ryanair Expands Summer Routes from Marseille, Adds Flights to Tetouan, Morocco
1 August 2021
The Ryanair airline plans to launch a new air link from Marseille-Provence airport to Morocco this summer. This new line is part of its recovery program.
Morocco’s Economy Contracts 6.3% in 2020 Amid COVID-19 Crisis, Central Bank Reports
1 August 2021
The Governor of Bank Al-Maghrib, Abdellatif Jouahri, presented on Saturday to King Mohammed VI the annual report of the Central Bank on the economic, monetary and financial (…)
Morocco Launches Major Tax Reform to Combat Evasion and Promote Equity
1 August 2021
The law on tax reform has come into force in Morocco. This new legal framework will allow the authorities to effectively fight tax evasion, and above all, it is hoped, to (…)
Moroccan Participatory Banks See 49% Surge in Deposits, Expats Hold 3.2% Share
31 July 2021
In 2020, sight deposits recorded by the participatory banking sector in Morocco reached an outstanding amount of 3.8 billion dirhams (MMDH), an increase of 49% compared to the (…)
Moroccan Dirham Weakens Against Euro, Gains on Dollar in Latest Bank Al-Maghrib Report
31 July 2021
The dirham appreciated by 0.20% against the US dollar and depreciated by 0.13% against the euro during the period from July 23 to 28, 2021. This is specified in the indicators (…)
Morocco’s Bank Credit Growth Accelerates to 4.1% in June, Boosting Private Sector Lending
31 July 2021
Bank credit in Morocco showed growth of 4.1% during the month of June. A pace accelerating compared to the trend observed a month earlier (+2.9%).
Morocco to Phase Out Subsidies on Sugar, Flour, and Butane Gas by 2023
31 July 2021
As of 2023, lump sugar and soft wheat flour will see their state subsidies completely eliminated. This measure also concerns butane gas, but will be done in two stages.
Morocco’s Exports Surge 49.5% Despite Pandemic, Led by Auto and Textile Sectors
31 July 2021
Morocco’s global trades have shown good performance both in terms of exports and in terms of investment attractiveness. Nevertheless, the effects of the health crisis related (…)