Economic news

| MOROCCO | UNEMPLOYMENT | An unemployment rate of 13% 2025

According to HCP, the unemployment rate in Morocco stood at 13.0% in 2025 against 13.3% a year earlier. In more details, the unemployment rate decreased from 16.9% to 16.4% in urban areas and from 6.8% to 6.6% in rural areas.

| MOROCCO | CEMENT | Domestic consumption down 19% in January 2026

During the month of January 2026, cement sales amounted to 1,044,130 tons compared to 1,285,613 tons a year earlier, recording a decline of 18.8%.

| MOROCCO | SURVEY | Improvement in activity in December 2025

The results of monthly business survey for December 2025 show an increase in production and sales compared to the previous month. In this context, the production capacity utilization rate remained stable at 79%. Meanwhile, orders would have recorded a decrease during the same period while order books would have settled at a normal level.

| BURKINA FASO | INFLATION | An inflation rate of -0.5% in 2025

According to the National Institute of Statistics and Demography (INSD), the Harmonized Consumer Prices Index of Burkina Faso decreased by 2.2% YoY in December 2025.

In 2025, the inflation rate stood at -0.5% on average against 4.2% in 2024.

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