Category: 2023

INFLATION 2023

In December 2023, the CPI in Morocco fell by 0.1% on the previous month. The average annual CPI for 2023 increased by 6.1%, while underlying inflation rose by 5.9%. The fall in CPI was mainly due to lower prices for food products, notably fish, fruit and vegetables. On the other hand, meat and dairy prices […]

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ECONOMIC GROWTH MOROCCO 2023

In 2022, Morocco experienced an economic downturn due to drought and the global crisis, but in 2023, growth picked up to 3% thanks to an improvement in agriculture and a recovery in tourism. Despite an earthquake in September, the economy was little affected. Falling world prices reduced inflation to 5% in August 2023, keeping interest […]

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TRADE BALANCE 2023

In the first half of 2023, Morocco’s imports fell by 1.6% to 359.552 million dirhams, while exports rose by 1.9% to 221.345 million dirhams, reducing the trade deficit by 6.8%. The surplus on trade in services rose by 66% to MAD 62,501 million, with travel receipts up 68.9%. Remittances from Moroccans living abroad rose by […]

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EMPLOYMENT AND UNEMPLOYMENT 2023

Between 2022 and 2023, the Moroccan economy lost 157,000 jobs, with unemployment rising to 1.58 million. The construction sector created 19,000 jobs, services 15,000 and industry 7,000, while agriculture and fishing lost 202,000 jobs. Unemployment reached 13% nationally, 16.8% in urban areas and 6.3% in rural areas. Underemployment also increased, from 972,000 to 1.043 million […]

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CORPORATE TAX

The Finance Act now provides for an exception to the application of the 35% and 20% rates. If a company’s net profit for a given year is equal to or greater than MAD100m, due to non-current income from the sale of fixed assets, the 35% rate applies only to that year. The 20% rate remains […]

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