Morning Brief may 15th, 2023

ECONOMIC HEADLINES
| MOROCCO | LENDING RATES | The weighted average rate up 53 BPS in Q1 2023
According to the results of Bank Al-Maghrib’s survey on lending rates in Q1 2023, the overall weighted average rate settled at 5.03% up 53 BPS compared to the previous quarter. In this context, rates increased by 66 BPS to 5.01% for treasury loans, by 55 BPS to 6.95% for consumer loans and by 44 BPS to 4.84% for equipment loans. Meanwhile, lending rates applied to mortgage loans decreased by 5 BPS to 4.79%.

| TUNISIA | FOREIGN TRADE | Reduction of the trade deficit by 5% at the end of April 2023
During the first four months of 2023, Tunisia's exports recorded an increase of 7.0% to TND 20,266.4 Mn. Likewise, imports rose by 3.8% to TND 26,531.5 Mn. In this context, the trade deficit narrowed by 5.4% to TND -6,265.1 Mn, corresponding to a coverage rate of 76.4%. The latter shows an improvement of 2.3 pts compared to the same period of 2022.

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