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The Moroccan Economy in Brief: Wednesday, May 12, 2021

More than MAD 91 billion in customs revenues for Morocco in 2020:
Customs revenues reached MAD 91.3 billion for the year 2020, down 10% from the previous year, according to the Administration of Customs and Indirect Taxes (ADII). "Beyond the health crisis, the repercussions of the Covid-19 pandemic were not long in coming, particularly in terms of customs revenue, which just reached 91.3 billion dirhams for the year 2020, down by MAD 9.7 billion or -10% compared to 2019," said the ADII in its 2020 report, published Tuesday.

69 Moroccan projects funded by the European research program "Horizon 2020" :
Morocco has risen to the top of the partner countries of the southern shore of the Mediterranean in terms of research projects selected for funding under "Horizon 2020", considered the largest research and innovation funding program of the European Union. According to the latest balance sheet of the European Commission, Morocco has benefited, until the end of 2020, from the funding of 69 projects involving 82 public and private research teams with an overall budget of 6.81 million euros under this program, said Tuesday, the Department of Higher Education and Scientific Research in a statement.

The Treasury places MAD 800 million in cash surpluses:
The Directorate of Treasury and External Finance (DTFE) launched, Tuesday, an operation of investment of cash surpluses of an amount of MAD 800 million. It is an investment, with repo, subscribed on one day at the weighted average rate of 1.12%, says the DTFE.

Morocco will exceed 52% of its energy mix before 2030:
Morocco will exceed 52% of its energy mix in 2030, said Tuesday, the Minister of Energy, Mines and Environment, Aziz Rabbah. The Minister, who was responding to an oral question on the opportunities for energy transition in Morocco after the Covid-19 pandemic, presented by the Justice and Development group in the House of Councillors, said that the Kingdom will exceed 52% of its energy mix in 2030, estimating that this figure could be reached before 2026 and this despite the delay in a previous period.

Taqa Morocco improves its net income group share:
Taqa Morocco closes the first quarter on a positive note. The electricity producer has achieved a net income group share (RNPG) of 229 million DH, marking an increase of 51.4% compared to the same period a year earlier. "This performance is explained by the evolution of the consolidated operating result and the improvement of the consolidated financial result thanks to the combined effect of the decrease in interest charges on loans and the favorable evolution of the USD/MAD exchange rate", says Taqa Morocco. According to the Chairman of the Board of Directors of the company, Abdelmajid Iraqui Houssaini, "the first quarter of 2021 is characterized by a significant improvement in financial indicators driven by the operational excellence of the Units". "This performance confirms the strength of TAQA Morocco's business model and its capacity to develop the national energy mix", he added.