Morocco releases $ 1 billion to fight coronavirus

The shops in Marrakech are empty while there are no more flights from Europe that can bring tourists, March 16, 2020. AFP Photos / Fadel Senna

Text by: RFI Follow

The fifth African economy is also trying to protect its businesses, but it must already face the deadlock of its main partner, the European Union.

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Morocco has just created a billion dollar fund to deal with the Covid-19 coronavirus epidemic.

The money will be used as a priority to support hospitals and health centers, to cover the additional costs caused by the epidemic, including the modernization of equipment and the hiring of additional staff.

Impact on tourism and industry

If the Covid-19 epidemic still affects Morocco very little (28 cases), its effects on the economy are also already palpable.

The country is gradually isolating itself from its main partner, the European Union. Sea and air links with most European countries are closed, which will quickly paralyze Moroccan industries working with the Old Continent, such as the automobile, aeronautics and chemicals.

The Ram, the national airline, which has already deleted some 30 destinations , has already adopted short-time working measures.

But the sector most affected is first of all that of tourism: it represents 17% of Moroccan GDP and 2 million direct and indirect jobs. The sudden cessation of tourism with Europe will thus considerably damage the Moroccan economy .

The Economic Watch Committee, set up by the government, has already announced measures to eliminate charges for businesses, as well as a moratorium on the repayment of bank loans.

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  • Morocco
  • Economy
  • Trade and Exchanges
  • Africa
  • Economy Africa

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