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The Moroccan Economy in Brief: Friday, June 11, 2021

CDM: A dividend payable on July 8:
The Ordinary General Meeting of Shareholders of Crédit du Maroc (CDM), held on June 9, decided to proceed with the distribution of a gross dividend of MAD 4.55 per share. This dividend will be payable as from July 8.

The AMMC presents its strategic plan 2021-2023:
The capital market has a second strategic plan in a particular context marked by the Coronavirus pandemic. This plan, which has just been presented in Rabat, covers the period 2021-2023 and takes into account the lessons and challenges of the crisis. According to the AMMC, it aims to "contribute to building an attractive and more competitive economy." The plan is the result of collaborative work between AMMC and market players and is based on the experience of the past few years. It comprises 4 main pillars divided into 10 priority action levers, according to the Authority. The first pillar aims at facilitating the recourse to financing by the capital market, which is a "vital" issue for the company in order to allow it to develop its activity and ensure its durability, indicates the AMMC.

Listed companies: Slight increase in revenues in Q1:
The revenues of listed companies recorded a 1.3% increase in the first quarter, after three quarters of successive declines in 2020, according to Attijari Global Research (AGR). Among the 72 companies that have published their achievements at the end of March 2021, 38 show an increase in their revenues, against 33 that experience a decline in their activity, while only one records a stability of its turnover, AGR reports in its recent bulletin "Research report - Equity."

Auction: Subscription of Treasury bills for MAD 3 billion:
An amount of MAD 3 billion was served out of a total of MAD 7.255 billion during the auction of June 8, says the Directorate of Treasury and External Finance (DTFE) under the Ministry of Economy, Finance and Administrative Reform. These are bonds with a maturity of 26 weeks subscribed for MAD 100 million, MAD 100 million, MAD 300 million and MAD 250 million at rates of 1.38%, 1.39%, 1.41% and 1.42% respectively, the DTFE said.

Marrakech/ INDH: MAD 250 million programmed for 2021-2023:
An envelope of 250 million will finance some 396 human development projects in Marrakech in two years (2021-2023). The Provincial Committee of Human Development of the prefecture of Marrakech has indeed adopted, Wednesday, the multi-year program of human development covering this period. In detail, 94 projects have been programmed for the current year for a total amount of MAD 69 million. They target different social categories concerned by the programs of the National Initiative for Human Development (INDH), including youth, women, children in precarious situations, the elderly, people with disabilities and the sick without resources among others.