Morning Brief of August 2nd 2024

ECONOMIC HEADLINES

| MOROCCO | CEMENT | Sales up 7% at the end of July 2024
In July 2024, cement sales recorded an increase of 52.3% to 1,189,016 tonnes. During the first 7 months of 2024, domestic cement consumption stands at 7,465,101 tonnes, up 6.8% compared to the same period of the previous year.

| MOROCCO | SURVEY | The production capacity utilization rate down to 75% in June 2024
The results of Bank Al-Maghrib’s monthly economic survey show a decline in production during the month of June 2024. In this context, the production capacity utilization rate (TUC) fell by 3 points to 75%. Meanwhile, sales and orders would have increased during the same period. Nevertheless, order books would have been remained at a level below normal.

| TUNISIA | MONETARY POLICY | BCT kept unchanged the key rate at 8%
Following its monetary policy meeting held on July 31st 2024, the Central Bank of Tunisia (BCT) decided to maintain its key rate unchanged at 8%.

 

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