The Moroccan Economy in Brief: Thursday, April 29, 2021
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 MAD 7,600:
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.
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.
Auction: Subscription of Treasury bills:
An amount of MAD 1.6 billion was served on a total of more than MAD 6.2 billion, during the operation of issuing Treasury bills by auction on Tuesday, says the Directorate of Treasury and External Finance (DTFE). During this operation, the bonds with a maturity of 2 years, 10 years and 20 years were subscribed respectively for MAD 600 million, MAD 900 million and MAD 100 million at rates of 1.664%, 2.311% and 2.835%, said the DTFE. The date of settlement is set for May 03 next, notes the same source.
Newly identified taxpayers: Tax Department extends incentives:
The Directorate General of Taxes (DGI) reminds newly identified taxpayers that the incentives in their favor have been extended until December 31, 2021. This measure concerns individuals carrying out an activity subject to income tax (IR) who identify themselves for the first time with the tax authorities, by registering for the role of business tax, from 1 January 2021. They are taxable only on the basis of income earned and transactions carried out from the date of their identification, explains the tax authorities.