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The Moroccan Economy in Brief: Monday, July 4, 2022

Moroccan companies: the social solidarity contribution will be maintained in 2023:

The social solidarity contribution will be held in 2023 in order to ensure a better financing of the generalization of social protection, according to the Minister Delegate in charge of the Budget, Fouzi Lekjaa, on Sunday. "Companies that make profits in various economic sectors, must provide an additional contribution, beyond the corporate tax, to finance the site of generalization of social protection," said Lekjaa who was the guest of the program "Decrypting" of MFM Radio.

A year 2021 to more than 3.63 billion dirhams for the ONCF :

The overall turnover of the National Railways Office (ONCF) amounted to nearly 3.63 billion dirhams (MMDH) in 2021, an increase by 29% compared to 2020. This rise is due to the performance of the passenger activity which has returned to growth and resilient freight activities, said ONCF in a statement on the holding of its Board of Directors, Thursday in Rabat, chaired by the Minister of Transport and Logistics, Mohammed Abdeljalil. Regarding the operating result, it has recorded an improvement of 551 million dirhams (MDH) compared to 2020 and this, thanks to the resilience of activities and actions to control costs and maintain industrial and commercial performance, the same source said.

The Moroccan TGV is a success:

The passenger activity of the National Railways Office (ONCF) has confirmed its good recovery in 2021, with a number of passengers improving by 63% to 34.4 million passengers. "The passenger activity has confirmed its good recovery, recording a notable increase compared to 2020. The achievements at the end of December 2021, show an exponential rebound of all indicators: the number of passengers has improved by 63% from 21.1 million in 2020 to 34.4 million passengers in 2021, " according to the Office in a statement issued after the meeting of its Board of Directors held Thursday in Rabat, chaired by the Minister of Transport and Logistics, Mohammed Abdeljalil .

Moroccan growth stands at 0.3% in Q1-2022:

The national accounts for the first quarter of 2022 show a clear reduction in the growth of the national economy to 0.3% instead of 2% during the same quarter of the previous year, according to the High Commission for Planning (HCP). This growth is the result of the increase in non-agricultural activities of 2.5% and the decrease in those of the agricultural sector of 14.3%, explains the HCP in a briefing note on the national economic situation in the first quarter of 2022. Driven by domestic demand, this growth was achieved in a context of high inflation and a worsening of the financing needs of the national economy, noted the same source.

Domestic demand slows sharply in Morocco:

The domestic demand showed a clear decline from 6.8% during the first quarter of 2021 to 0.7% in Q1-2022, according to the High Commission for Planning (HCP). This demand has contributed for 0.8 point to national economic growth instead of 6.8 points, according to the HCP in an information note on the national economic situation in Q1 2022. Thus, the final consumption expenditure of households has experienced a decline in their increase rate to 1.1%, with a contribution to growth of 0.7 point. For its part, the final consumption of the public administration has shown a rise by 5.4%, with a contribution to growth of 1 point.