FINANCIAL MARKET HEADLINES

| MOROCCO | PORTS | Port traffic up 7% at the end of September 2020

In September 2020, traffic carried through ports managed by the ANP reached an overall volume of 8.0 million tons, i.e. an in-crease of 8.0%. In this context, port traffic during the first 9 months of 2020 grew by 6.9% year-on-year to 70.5 million tons.

| MOROCCO | CONFIDENCE | HCP index down 14 bps y-o-y in Q3 2020

According to the results of the household survey conducted by HCP, the Household Confidence Index stood at 60.6 pts in Q3 2020 against 74.8 pts a year earlier, recording a drop of 14.2 pts. Compared to the previous quarter, the Household Confidence Index declined by 5.0 pts.

| TUNISIA | GDP | IMF forecasts a 7% decline in the Tunisian economy in 2020

Following its last report on world economic outlook, the International Monetary Fund forecasts a decline of 7.0% of Tunisia's GDP in 2020. In 2021, IMF expects a rebound of 4.0% of the Tunisian economy.

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