The weekly press review for this Saturday, October 17

The King presides over a Council of Ministers, consumer loans in sharp decline, the new generations of ADM toll stations… Here are the main titles developed by the national weekly press.

Telquel
King Mohammed VI chairs a Council of Ministers

King Mohammed VI chaired, Wednesday at the Royal Palace in Rabat, a Council of Ministers, devoted to the examination of the general orientations of the finance bill for the 2021 budget year and the adoption of a number of draft legal texts and international agreements, said a statement from the spokesperson for the Royal Palace, Mr. Abdelhak El Mrini. At the start of the Council’s work, His Majesty the King inquired with the Minister of Health about the progress of the Covid-19 vaccine under development by China, with regard to Morocco. Subsequently and in accordance with the provisions of article 49 of the Constitution, the Minister of the Economy, Finance and Administrative Reform presented a presentation on the general orientations of the draft finance law for the budget year 2021.

Eco Life
Mohammed VI Fund for Investment: Financial arm of the recovery

The Strategic Investment Fund is one of the main levers for economic recovery in Morocco, to limit the effects of the health crisis. In its overall framework, the economic recovery plan is based on this strategic investment fund now called the “Mohammed VI Fund for Investment”. Endowed with 15 billion DH, it is called to play a leading role in the promotion of investment and the capacity building of the national economy. In operational detail, the Mohammed VI Fund will intervene to provide the productive sectors with the necessary support and to finance and support the major projects envisaged, within the framework of public-private partnerships. To do this, it will be endowed with the appropriate legal personality and managerial structures, so that it ultimately emerges as a model of good governance, efficiency and transparency.

Challenge
ADM deploys a new generation of toll stations

The National Motorway Company of Morocco (ADM) is continuing its efforts to streamline motorway traffic throughout the national territory. It is in this sense that ADM has just deployed a new generation of toll stations, equipped with a new toll system on the Casablanca – Berrechid highway. According to top management, the main objective of this project is to offer a more fluid and secure travel experience to users of the motorway axes connecting Casablanca, Marrakech, Agadir and Béni Mellal, so that the trip between the city of departure and destination city is now non-stop. It is also a project that is part of the overhaul of the toll system between Casablanca and Berrechid by switching to the closed toll system instead of the current open toll system. It should also be noted that the Casablanca- Berrechid motorway constitutes the first section of the Casablanca – Agadir and Casablanca – Béni Mellal motorway, and therefore constitutes a transit point for the entire north-south flow of Morocco. This section also connects the economic capital to Mohammed V International Airport.

Finances News Weekly
Consumer credit: confinement is there

Since the onset of the health crisis, banks and finance companies have faced a tide of requests for deferral of credit maturities from their customers. At the same time, the production flow of new consumer loans declined significantly. A first since the last financial crisis 2008. The good performance of the production of bank loans this year hides some disparities behind it. Consumer loans, the real pulse of economic activity and of household investment in particular, fell sharply during this period of crisis. “Through our network, we are seeing a significant drop in loan requests for the purchase of household appliances and furniture and, to a lesser extent, for the purchase of cars. Even more, the financing of leisure expenses (travel, parties, etc.) and everyday consumption has stalled because of the crisis, ”explains a banker.

Morocco-Weekly
New consecration for Abdellatif Jouahri

Consecration for Abdellatif Jouahri. The Wali of Bank Al-Maghrib (BAM) maintained its position, for the fourth consecutive year, in the top 10 of the best central bankers, according to the latest ranking of the American magazine Global Finance. Mr. Jouahri obtained the most prestigious “A” rating, awarded by the New York magazine in its report entitled “Central Banker Report Cards 2020”, BAM said in a statement. The “Central Banker Report Cards”, published annually by Global Finance since 1994, ranks the governors of the central banks of more than 90 key countries in addition to the European Union, the Eastern Caribbean Central Bank, the Bank of African States. Central and Central Bank of West African States, the statement said. “Even in good times, central bankers face a host of challenges. Today, with the universal health crisis, central bankers are faced with unprecedented political and operational constraints, ”said Joseph Giarraputo, editor and editorial director at Global Finance, quoted by the press release.

The New Tribune
Akhannouch takes stock of agricultural activities

The value of exports of agricultural food products totaled 39.5 billion dirhams (MMDH) for the 2019-2020 agricultural season, an increase of 8% compared to the year 2018, the minister of Agriculture, maritime fishing, rural development and water and forests, Aziz Akhannouch. In response to a central question on “preparations to make the current agricultural season a success in light of the spread of the Covid-19 pandemic”, in the House of Representatives, Mr. Akhannouch said that thanks to the continuation of agricultural activity throughout the value chain, the value of exports of agricultural food products, excluding fishing products, amounted to MAD 39.5 billion during the 2019-2020 season, an increase of 8 % compared to 2018 and 130% compared to 2010. And to note that the continuation of agricultural activity in the various packaging and processing units has made it possible to preserve the export activity, which has achieved positive results in the light of these current exceptional circumstances.

Observer of Morocco and Africa
The DGSN is not kidding with health rules

Rules are meant to be enforced. When this is not the case, the police intervene. They do so without being helped by the Ministry of the Interior and its local communities. Applying, with rigor and discipline, the laws in force on non-compliance with health rules, the police officers are overwhelmed. The control of exits and entrances to towns affected by restrictive movement measures is their sole responsibility and they assume it with tact and professionalism. But we also see them even inside the neighborhoods carrying out exhausting outreach work that the officials, reporting to the interior department, and with them the local elected officials, are supposed to do.