FINANCIAL MARKET HEADLINES
| MOROCCO | COSUMAR | NIGS up 22% in 2023, total DPS set at MAD 10
| MOROCCO | WAFA ASSURANCE | NIGS down 14% in 2023, DPS raised to MAD 140
| MOROCCO | AGMA | NIGS up 11% in 2023, DPS raised to MAD 275
| MOROCCO | OULMÈS | NIGS up 5% in 2023, DPS raised to MAD 22
| MOROCCO | PROMOPHARM | Profit warning
In a press release, Promopharm announces a drop in its net income for the FY 2023, in a context marked by :
- A generalized increase in the prices of raw materials;
- The regulation of drug sales prices, which does not allow the absorption of inflation impacts;
- A significant depreciation of the Moroccan Dirham against the Dollar;
- An increase in research and development expenses to prepare new products that will be manufactured in the 2 manufacturing units currently under construction.
ECONOMIC HEADLINES
| MOROCCO | PUBLIC FINANCES | Figures at the end of February 2024
At the end of February 2024, ordinary Treasury revenues increased by 16.0% to stand at MAD 50.0 Bn. This reflects the increase of 9.5% in tax revenue to MAD 43.9 Bn and 136.2% in non-tax revenue to MAD 5.0 Bn.
Meanwhile, overall expenses reached MAD 59.6 Bn, up 10.9%, taking into account a 3.2% increase in ordinary expenses to MAD 52.6 Bn and a 2.7% increase in CAPEX to MAD 16.8 Bn. Note that the subsidies expenses stood at MAD 5.3 Bn during the same period, down 6.3%.
| TUNISIA | FOREIGN TRADE | Reduction in the trade deficit at the end of February 2024
At the end of February 2024, Tunisia's exports recorded an increase of 5.9% to TND 10,637.6 Mn while imports increased slightly by 0.2% to TND 12,421.7 Mn. In this context, the trade deficit fell by 24.4% to stand at TND -1,784.1 Mn. The latter corresponds to a coverage rate of 85.6%, up 4.6 points compared to the same period of 2023.
Read More.
