LE MATIN DU SAHARA:
On the Eve of the Start of Exchange Flexibility, the Central Bank Is Lowering Currency Reserves: "Bank Al-Maghrib, which keeps its policy rate unchanged at 2.25%, slightly raises Morocco's growth forecasts for 2017 to 4.4%. Nevertheless, reserves in divisions should ensure only 6 months of imports of goods and services in 2017, against 6 months and 17 days announced last March."
Hydrocarbon Market: Liberalization Benefits the State Budget but Not the Consumer: "Obviously, hydrocarbon prices will not decrease significantly in the coming days. And for good reason, the Delegate Ministry to the Head of Government in charge of General Affairs and Governance is still struggling to identify the mechanisms of this liberalized but "biased" market."
AUJOURD'HUI LE MAROC:
With 2,200 Employees, Phosboucraa Is the 1st Job Provider in Southern Morocco: "The socio-economic impact of Phosboucraa is confirmed. The subsidiary of the Sherifian Office of Phosphates (OCP) has succeeded in creating a strong social dynamic in the southern provinces. It is indeed the largest private employer in the region. The figures confirm this. Phosboucraa currently employs approximately 2,200 people representing an annual payroll of 752 million Dirhams."
Treasure: The Deficit Amounts to 7.5 Billion Dirhams at the End of May: "The budget deficit has been substantially reduced in the fifth month of the year. The Treasury's need stood at 7.5 billion Dirhams against 25.8 billion Dirhams in the same month of last year. The difference was reduced by a positive balance of 14.1 billion Dirhams from special Treasury accounts and self-managed State services against a positive balance of 6.5 billion Dirhams a year earlier."
L'ECONOMISTE:
Boussaïd Wants to Boost Recovery: "The dynamics of recovery are well under way. Consumption took 1.6% against 1.3 last year and bank loans have recovered by 5.1% since the beginning of this year. A good trend, announces Mohamed Boussaïd, the Minister of Economy and Finance, at L'Economiste Club organized on Friday, June 16."
The Baccalaureate Results Rescue a Disastrous Year: "More than half of the baccalaureate candidates passed the exam in the first session this year. The success rate has gained 11 points in ten years. This is a welcome progression, knowing that the conditions of learning have not improved in any way. On the contrary, the classes are more congested, and the teachers are less numerous and less qualified... How can this trend be explained? For some, this is proof that the system is not completely on the ground."
AL BAYANE:
Flexibility: Banks Saved, Importers Exposed: "Fitch Rating reassures again the effects of switching to a flexible exchange regime. In a note published on Monday, the financial rating agency affirms that the partial liberalization of Morocco's exchange regime will have a "limited impact on the country's banking sector." According to it, banks are unlikely to face significantly higher risks linked to bigger volatility in the exchange rate regime. Because, it is said, these institutions remain little exposed to foreign currency in their domestic activities. Moreover, "loans in foreign currency are almost entirely trade-related and deposits in foreign currency are rare." For Fitch, although the government and Bank Al Maghrib have advanced the date of June 2017 to start the reform, this scenario now seems unlikely."
Baccalaureate 2017: A Success Rate of 50.28%: "A total of 156,042 candidates enrolled in public and private education have passed their baccalaureate under the ordinary session of June 2017, with a success rate of 50.28% against 49.15% at the end of the same session 2016, i.e. an increase of 1.13%, announced on Tuesday the Ministry of National Education, Vocational Training, Higher Education, and Scientific Research. The number of candidates in the scientific and technical branches reached 100,244, a success rate of 52.78%, whereas in the literary and original branches, 55,719 candidates have graduated, with a success rate of 46.33 percent, specifies the ministry in a statement."
LIBERATION:
The New Bachelors Enjoy Their Success... Pending: "50.28% is the success rate of the Baccalaureate exams for the June regular session. No less than 156,042 candidates were able to obtain the expected diploma paving the way for higher education."
Polisario Involved in International Drug Trafficking: Arrest of Drug Traffickers in Guelmim and Seizure of Logistical Means and Firearms from Tindouf Camps: "The brigade of the judicial police in the city of Guelmim proceeded, on the basis of information provided by the Directorate General for the Surveillance of the National Territory, the arrest of seven individuals suspected of links to a cross-border criminal network specializing in international drug trafficking and psychotropic drugs. A statement from the Directorate General of National Security relayed by the MAP agency specifies that among those arrested were five Moroccans, one Malian, one Algerian, and two individuals from the Tindouf camps, holders of identity cards issued by the Polisario and suspected of being involved in the international drug trafficking in the Sahel."
Les Inspirations Eco:
Morocco-Tunisia: A New Impetus for Cooperation: "The two sides intend to double trade exchange over the next three years. To achieve this, ten bilateral agreements, covering different sectors of activity, have just been signed on the occasion of the 19th session of the High-Moroccan-Tunisian Joint Committee. In particular, with the aim of strengthening regional and continental integration tackles barriers to trade and facilitate market access."
Liberalization of the Dirham: What Is the Risk to Moroccan Banks? : "The reform of the dirham liberalization is currently on everyone's lips. This is an opportunity for Fitch Ratings to assess its risks and its impact on Moroccan banks. According to the rating agency, this liberalization will have a limited effect on macroeconomic stability in the short and medium term. It foresees, however, a possible impact - in the short term - for small and medium-sized importers."
Crédit : IMPERIUM MEDIA
