Blog

The Moroccan Economy in Brief: Monday, April 19, 2021

Moroccan Customs unveils its 2020-2023 strategic plan:
The Administration of Customs and Indirect Taxes (ADII) has just unveiled its 2020-2023 strategic plan aimed at contributing to the effort to revive the national economy and strengthening the climate of trust between economic operators and the administration. With the main theme "For a relationship based on trust," this plan, designed around six strategic objectives, comes in a difficult period marked by the economic and social repercussions of the pandemic of Covid-19, it emerges from the "Strategic Plan of the ADII 2020-2023."

Bank Al-Maghrib launches the service of centralization of irregular checks:
Bank Al-Maghrib (BAM) launched, Thursday, the service of centralization of irregular checks (SCCI), whose management is delegated to the company Checkinfo, aiming to contribute to the improvement of the business climate by strengthening the credibility of the check. "The new SCCI is part of the initiatives undertaken by the Central Bank to strengthen the credibility of the check and contribute, ultimately, to improving the business climate," said Khalid Zbir, head of the network management and presence place at BAM, during a press briefing held for this purpose, in video conference mode.

Morocco 2nd African investor in France:
Morocco is the second African investor in France with 6 projects and the creation of 40 jobs in 2020, said Thursday in Rabat, Stephane Lecoq, Director of Invest activity of Business France, for the Maghreb and Sub-Saharan Africa. Speaking at a press conference, initiated by the regional economic service of the Embassy of France in Morocco and the representation of Business France in Morocco, to present the 2020 assessment of international investment in France, Lecoq said that three African countries are in the top 25 of international investors in France, including Tunisia (20th) and Côte d'Ivoire (25th).

The investments of the Moroccan Treasury boost the money market:
The money market was boosted, during the week from April 8 to 14, with the Treasury's investments approaching about MAD 20 billion on average daily, an increase of 47% compared to a week earlier, according to BMCE Capital Research (BKR). The reduction in cash circulation was reflected in the deficit of bank liquidity whose average weekly outstanding amount was set at MAD 80.1 billion at the end of the past week, said BKR in its monetary and bond letter. In this wake and after three consecutive weeks of strengthening the 7-day advances, Bank Al-Maghrib (BAM) has reduced them by nearly 10 billion dirhams to settle at MAD 25.5 billion.

12.4% increase in overall port traffic in Morocco in 2020:
Moroccan ports have recorded a significant change in overall port traffic, which rose from 153.1 million tons in 2019 to 172.1 million tons in 2020, an increase of 12.4%, according to the Ministry of Equipment, Transport, Logistics and Water. The ports of Morocco have recorded "good resilience" to the health crisis related to the Covid-19 pandemic, said the ministry in a statement on the activity of the ports of Morocco in 2020, noting that the port and maritime community has mobilized to ensure the continuity of the operation of the ports to maintain the strategic logistics chains.