Morning Brief August 16th 2024

FINANCIAL MARKETS HEADLINES

| MOROCCO | ATLANTASANAD | Revenue almost stable in H1 2024
In Q2 2024, AtlantaSanad's revenue amounted to MAD 1,133 Mn, down 4.9% year-on-year. In H1 2024, the company’s revenue remained stable (+0.3%) to MAD 3,096 Mn.

ECONOMIC HEADLINES

| MOROCCO | PUBLIC FINANCES | Figures at the end of July 2024
At the end of July 2024, treasury ordinary revenues rose by 8.7% to MAD 198.1 Bn. This trend reflects the 11.6% increase in tax revenues to MAD 174.1 Bn and the 10.9% decrease in non-tax revenues to MAD 21.4 Bn.
Meanwhile, overall expenses reached MAD 238.2 Bn, up 12.6%, taking into account an increase of 9.5% in ordinary expenses to MAD 188.7 Bn and 6.9% in CAPEX to MAD 57.3 Bn. Note that the subsidies settled at MAD 16.4 Bn during the same period, down 8.1%.

| TUNISIA | WORKERS REMITTANCES | An increase of 3% at the end of July 2024
At the end of July 2024, Tunisia’s workers remittances recorded an increase of 3.0% compared to the same period of the previous year, to reach TND 4,448.6 Mn.

| TUNISIA | TOURISM | Tourism receipts up 6% at the end of July 2024
At the end of July 2024, Tunisia’s tourism receipts settle at TND 3,754.2 Mn, displaying an increase of 6.4% compared to the same period of the previous year.

 

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