مدي 1 تي في : النشرة الاقتصادية - 05/10/2024
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NewsTranscript
00:00Welcome to this week's episode of Economic News, and let's start with the Moroccan issue.
00:16The U.S. Standard & Poor's Global rating agency highlighted in a recent report that
00:21Morocco's economic reforms are expected to contribute to a more comprehensive and stronger growth.
00:28The rating agency mentioned that the major changes to Morocco's economy,
00:32its strong performance in tourism sectors, phosphate and its future,
00:35and the production of cars and airplanes are factors that strengthen the prospects of economic growth and stability in the Kingdom.
00:42It noted that Morocco has been able to withstand many shocks in recent decades.
00:47The U.S. Standard & Poor's Global Rating Agency expected the Kingdom's GDP to grow by an average of 3.6%
00:53during the period between 2024 and 2027, from 1.5% between 2020 and 2023.
01:01The rating agency explained that this growth is supported by strong domestic demand,
01:07with a return to inflation of 1.5% during the current year.
01:15The Ministry of Tourism, Trade, Economic Cooperation and Cooperation noted earlier this week
01:20that tourism revenues in the hard currency reached an unprecedented level of 17 billion dirhams during the month of August.
01:28The ministry noted that this performance represents an increase of about 20% compared to August 2023,
01:36which is a relatively new figure.
01:39The ministry added that this positive momentum continued throughout the year,
01:43with the total revenue reaching 76.4 billion dirhams by the end of August 2024,
01:50a growth rate of 7% compared to the same period in 2023.
01:56These figures confirm the huge growth of the Moroccan tourism sector,
02:02with the number of visitors reaching 1.8 million in August and nearly 12 million since the beginning of the year.
02:09Economic activity in the Kingdom recorded an improvement in the past quarter compared to the previous month,
02:16according to data from the Bank of Morocco.
02:18The Central Bank noted that the improvement in production included all industrial sectors,
02:23except for fabric, leather, electricity and electronics,
02:26which is likely to be registered as a recession,
02:29according to an industrial cost estimate by the Moroccan Bank of Morocco,
02:32between the 2nd and the 30th of September.
02:35It was also noted that the productivity employment rate remained at 77% after 76% in July,
02:42while demand and sales rates rose in all sectors,
02:46with the number of fabric and leather.
02:48Most of the workers are expected to increase production and sales in all sectors,
02:52with the number of food industries for the next three months.
02:57The International Monetary Fund said that it is watching with great concern the tensions in the Middle East,
03:02and warns that further conflict will increase risks and uncertainty,
03:05and that there may be great economic implications for the region and its surroundings.
03:09The International Monetary Fund said that the total GDP in Gaza
03:13declined by 86.5% in the first half of 2024 compared to the previous year,
03:20while the total GDP in the West Bank declined by 25.5% in the first half of 2024,
03:27and by 20% in Lebanon.
03:30It pointed out that Israel only witnessed a 10% decline in the first half of 2024,
03:35while the total GDP in Israel declined by 20% in the fourth quarter of the year.
03:45The latest data released by the US Department of Labor showed
03:47the increase in unemployment requests by 6,000 last week,
03:51to 225,000 weekly.
03:55This limited increase is due to the impact of the strikes in the Boeing company in Tehran,
04:00as well as the strikes by US workers, which lasted for three days in a row,
04:05and led to the suspension of shipping on the east coast and the Gulf coast in the United States,
04:10in addition to the destruction caused by the flood in the south-east of the United States.
04:18The service sector activity in the United States has risen to its highest levels since February 2023,
04:23with a record 54.9 points in September,
04:27amid strong growth in new demands, according to the Department of Supply and Demand.
04:32This indicates an increase in the number of active data on consumer spending
04:36and a reduction in the trade deficit as the US economy continues to grow.
04:39Expectations indicate that the economy will grow by 2.5% per year in the third quarter,
04:45with the admission of increasing risks to the labor market,
04:48which experts suggest is one of the factors that pushed the federal reserve
04:52to a record low of 50 points last month.
05:00This concludes this week's news.