The Moroccan Economy in Brief: Tuesday, April 14, 2020
World Bank urges MENA economies to be more transparent:
In Morocco, as in other countries in the Middle East and North Africa region, improved transparency is essential to contain coronavirus, stimulate growth, and build confidence, according to a new World Bank report. "Transparency on critical economic issues - such as public debt and employment - will be critical to boosting growth and building confidence in public institutions," the international financial institution says in its latest economic newsletter for the region.
Car making: Renault is adopting a new strategy in China:
The Renault group announces this Tuesday the launch of its new strategy in China. This strategic reorientation should enable the French automaker to consolidate its competitive advantages to maintain a long-term presence on the Chinese market and maximize synergies with Nissan as part of the Alliance's new "leader-follower" concept.
World trade: Morocco, second African exporter of services:
"Morocco maintains its status as the second African exporter of services worldwide. In 2019, the Kingdom will post $19 billion in services exports, up 4% over one year, representing a global market share of 0.4%. Egypt is still the leading African exporter of services with 25 billion dollars (+7%), i.e. a world market share of 0.5%.
Economic Monitoring Committee: New economic and social measures in sight:
"The CVE, which is meeting by videoconference on Tuesday, April 14 under the chairmanship of Mohamed Benchaaboun, Minister of Economy, Finance, and Administrative Reform, will consider the measures to be taken in light of the developments observed. The CVE will also present the evolution of economic, sectoral, and financial aggregates and an update on the measures already undertaken. It should be noted that since the onset of the crisis, the Committee has put in place a battery of economic and social measures to help the sectors and households affected by this health crisis.
Coronavirus: Free money transfers with inwi money:
New inwi money customers will also benefit from 1 GB of data free of charge. Indeed, the mobile money is an important means to limit the movements of people, by promoting the dematerialization of cash and remote or local payments as for the payments made without contacts in all Marjane of Morocco thanks to inwi money. The users can thus, from their home and in compliance with the health rules of confinement, access via a simple click to many financial services.