Morning Brief february 3rd, 2023

ECONOMIC HEADLINES

| MOROCCO | UNEMPLOYMENT | An unemployment rate of 11.8% in 2022
According to HCP, the unemployment rate in Morocco stood at 11.8% in 2022 against 12.3% a year earlier. In more details, the unemployment rate went from 16.9% to 15.8% in urban areas and from 5.0% to 5.2% in rural areas.

| MOROCCO | CEMENT | Domestic consumption down 6% in January 2023
At the end of the first month of 2023, cement sales amounted to 1,060,585 tons, showing a decline of 6.0% compared to the same period of the previous year.

| TUNISIA | KEY RATE | BCT kept the key rate unchanged at 8%
At its meeting held on February 1st 2023, the Board of Directors of the Central Bank of Tunisia decided to keep the key rate un-changed at 8%.

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