The Moroccan Economy in Brief: Friday, April 30, 2021
Data exchange: Alliance between Bank Al-Maghrib and Customs:
Bank Al-Maghrib and the Administration of Customs and Indirect Taxes (ADII) signed Thursday, a partnership agreement aimed at establishing a formalized framework for the exchange of data and experiences in areas of common interest to both institutions. This new cooperation framework will allow the exchange of data and access to information and studies produced by both institutions in their respective missions, said a joint statement of the two institutions.
The Al Omrane Group will invest MAD 4.3 billion this year:
The Head of Government Saad Dine El Otmani chaired, Wednesday in Rabat, the meeting of the Supervisory Board of Al Omrane Group devoted to the review of the Group's activities, its achievements and its prospects for action. Speaking on this occasion, El Otmani welcomed the measures taken by the Ministry of National Planning, Urban Development, Housing and Urban Policy, as well as the efforts made by Al Omrane Group and all stakeholders to cope with the exceptional situation imposed by the Covid-19 pandemic and mitigate its effects..
The richest 20% of Moroccans hold more than 50% of income:
The wealthiest 20% of the population in Morocco hold 53.3% of household income against 5.6% for the least wealthy 20%, according to the results of a survey conducted by the High Commission for Planning (HCP). With an average annual income per capita of MAD 57,400, the wealthiest 20% of the population have an income about 10 times (9.6) that of the least wealthy 20% (MAD 6,000), said the HCP, which has just published a note entitled "Household Income: Levels, Sources and Social Distribution."
Average monthly income of Moroccan households slightly above 7,600 dirhams:
The average annual income per household in Morocco stood at MAD 91,933 in 2019, which is equivalent to an average monthly income of MAD 7,661, according to a survey conducted by the High Commission for Planning (HCP). This income is MAD 98,483 in urban areas (MAD 8,207 per month) and MAD 77,600 in rural areas (MAD 6,467 per month), the HCP said in a note entitled "Household income: Levels, sources and social distribution", adding that the total income of Moroccan households is estimated annually at MAD 767,142 million.
Beni Mellal/INDH: More than MAD 70 million allocated in 2021 to flagship programs:
A budget of MAD 70.8 million will be allocated to the four flagship programs of the INDH in the province of Beni Mellal, according to figures released by the Provincial Committee for Human Development (CPDH). In detail, the 1st program on the catching up of deficits in infrastructure and basic social services will mobilize nearly MAD 31 million, while the 2nd program on the support of people in precarious situations receives funding of more than MAD 7.47 million.