Morning Brief march 20th, 2024

FINANCIAL MARKET HEADLINES
| MOROCCO | SMI | A profit of MAD 169 Mn in 2023, DPS set at MAD 80

ECONOMIC HEADLINES
| MOROCCO | KEY RATE | BAM maintains its key rate unchanged at 3%
The Board of Bank Al-Maghrib, held on Tuesday March 19th 2024, decided to keep the key rate unchanged at 3.0%. In terms of outlook, the Central Bank forecasts a growth rate of 2.1% in 2024 against an estimated growth of 2.8% in 2023.

| SENEGAL | FOREIGN TRADE | Widening of the trade deficit in January 2024
According to the National Agency for Statistics and Demography (ANSD), Senegal's exports reached FCFA 287.6 Bn in January 2024, down 23.9%. Meanwhile, imports increased by 3.5% during the same period to FCFA 607.0 Bn. In this context, the trade deficit stood at FCFA -319.4 Bn in January 2024 compared to FCFA -208.7 Bn a year earlier.

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