The economy is in a sweet spot thanks to an improved agricultural sector, which benefitted from better weather conditions, and led to a boost in food supply and rising demand for phosphate fertilizers. Tourism also made a marked contribution to Q2’s growth as the country has relatively good security conditions in the region. On the downside however, activity in the construction sector remained in the doldrums. In Q2, GDP expanded 4.8% annually, up from 3.8% in Q1. The government presented the economic assumptions for the 2018 budget on 16 August, which include a deficit of 3.5% of GDP, above the 3.8% projected for this year. The government also warned that the all-important agricultural sector could subdue economic growth in 2018 due to an expected poor cereal production.
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source: Focus Economics
Small and medium enterprises, which are the key element to the development of the economy of a country like Morocco, are involved in varied activities related to trade, agriculture, crafts, tourism… It is clear that they require funds to start their activity first and then work on improving it. However, SMEs face some difficulties related to financial needs due to the quantitative and qualitative rationing imposed by the traditional financial system against them. Therefore, SMEs look for financial means that meet their specific liquidity needs, such as participatory banking which could be a credible alternative to classical financing of SME.Therefore, this article is dedicated to the presentation of different theoretical reflections and the results of the first exploratory study based on the interviews with business account managers in several Moroccan banks about the issue of the specificity of SMEs and their financing by conventional banks.
Source: Ibima Publishing
Interesting reading on Morocco’s Energy sector.
Project: Middle East North Africa Sustainable ELECtricity Trajectories (MENA-SELECT)
Boris Schinke (Germanwatch) and Jens Klawitter (Germanwatch)
Rabat – Moroccan Minister of Agriculture Aziz Akhannouch inaugurated and supervised the developments of the realization of agricultural projects, with a total budget of MAD 1.8 billion, in Tinghir on Monday.
Read more on Morocco World News
Rabat – The Casablanca-Settat region will soon have its seawater treatment plant, according to Charafate Afailal, Secretary of State for Water. The feasibility study and the institutional set-up of the project are currently being finalized.
Read more on Morocco World News
TANGIERS: Morocco and China’s Haite Group signed an agreement on Monday (Mar 20) to launch an industrial park near Tangiers for 200 Chinese companies that will create tens of thousands of jobs.
The agreement was signed in a ceremony at the royal palace in the port city attended by King Mohamed VI.
With an initial investment of US$1 billion, “Mohamed VI Tangier Tech City” aims to generate 100,000 jobs, including 90,000 for employees from the Tangiers area.
“Chinese economic operators are looking for competitive platforms and they have chosen Morocco as one of those platforms,” Industry Minister Moulay Hafid Elalamy told AFP.
“The project is scheduled to take 10 years” and work will start in the second half of 2017, he said.
It will serve as the North Africa base for Chinese companies operating in the sectors of automobile manufacturing, aeronautics and textiles.
Total investments by companies from China over 10 years will amount to US$10 billion, said Li Biao, president of the Chinese group, quoted by Morocco’s news agency MAP.
Morocco has launched an industrialisation drive centred on Tangiers which is being turned into a hub with a free trade zone and deepwater harbour.
Source: Channelnews Assia