The Moroccan Economy in Brief: Wednesday, January 9, 2019

The Renault-Nissan Alliance is "not in danger":
The Renault-Nissan automotive alliance, which has been going through an unprecedented crisis since the shock arrest of its builder Carlos Ghosn in mid-November in Japan, is "absolutely not in danger", the Japanese manufacturer's boss assured the AFP on Monday, January 7, during a meeting with the company. Hiroto Saikawa, on the other hand, did not wish to comment on the fate of his former mentor, who is still being held in Tokyo for alleged financial malpractice and is expected to appear for the first time yesterday, Tuesday, in court.

Nissan launches two contests:
For its participation in the Formula E championship, Nissan, a leading brand in innovation in the electric car segment, is putting its customers at the heart of the event by activating two competitions open to the general public. Each participant is invited to go to the Nissan showroom in Marrakech, take a picture with the Formula E competition car, publish a selfie with the #NissanFormulaE hashtag, identify three friends and access the draw to win a stay in Marrakech, with hotel night and VIP ticket to access the event and enjoy meetings with the drivers, visit the stands, access the VIP box, Pit Lane... as well as many other surprises.

Volvo Cars passes the 600,000 vehicle mark:
New world sales record in 2018 for Volvo Cars. For the first time since its creation in 1927, the Swedish manufacturer has reached the 600,000 car mark. Sales increased by 12.4% year-on-year to 642,253 units. This is the fifth year in a row that Volvo Cars has set a world sales record. By 2017, the Swedish manufacturer had sold 571,577 units. The new record highlights the strong demand for models in Volvo Cars' renewed range.

INDH: 1,414 projects for an investment of more than 1.24 billion dirhams:
A total of 1,414 projects for a total investment of more than 1,249 billion dirhams have been carried out or are being carried out between 2005 and 2018 in the prefecture of Meknes within the framework of the National Initiative for Human Development (INDH).

Growth: 2.9% this year according to the World Bank:
The World Bank (WB) has raised its growth estimates for the Moroccan economy to 3.2% in 2018, up 0.2% from its June forecast. According to the WB's semi-annual report "Prospects for the World Economy" published on Tuesday, "an abundant agricultural harvest and a favourable tourist situation have helped to stimulate growth in Morocco (...) in 2018, which is estimated to have reached 3.2%." With regard to the medium-term outlook for the Moroccan economy, the World Bank expects growth of 2.9% in 2019, thanks to the reforms undertaken and the improvement of tourism activity, and a rate of 3.5% in 2020 and 2021.