Morning Brief June 7th, 2024

ECONOMIC HEADLINES

| MOROCCO | INVESTMENT | Gotion High-Tech invests MAD 12.8 Bn for the installation of a Gigafactory in Morocco
The Head of Government, Mr. Aziz Akhannouch chaired, on Thursday June 6th 2024, the signing ceremony of the strategic invest-ment agreement between the Sino-European group Gotion High-Tech and the Moroccan State. This concerns the establishment in Morocco of the first Gigafactory in the Middle East & Africa region. This involves the creation of a complete industrial ecosys-tem for the manufacturing of electric batteries in Kenitra with a capacity of 20 GWh and a total investment of MAD 12.8 Bn, allow-ing the creation of 17,000 jobs.

| TUNISIA | INFLATION | An inflation rate of 7.2% in May 2024
According to the National Institute of Statistics of Tunisia, the Consumer Prices Index increased by 0.5% in May 2024 compared to the previous month. Year-on-year, the inflation rate stands at 7.2%.

 

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