馃嚥馃嚘MoroccoNorth Africa
Bank credit accelerates, driven by businesses and public sector investment
via Le Matin3 min read
Bank credit to the non-financial sector increased by 8.1% in April 2026, compared to 4.8% for the entirety of 2025. Bank Al-Maghrib projects this growth to average 6.8% for the year before stabilizing at 6.1% in 2027. This acceleration is largely fueled by private sector equipment loans, which jumped by 14.5% in April, indicating strong productive investment. In contrast, treasury facilities grew by only 3.4%, suggesting businesses are borrowing more for investment than for liquidity management. The public sector also significantly contributed to this growth. Credit to local administrations surged by 110% in April, reflecting territorial investment in infrastructure projects. Equipment loans to public enterprises increased by 18.5%. These trends confirm that public investment remains a primary driver of financing demand, though the private sector is increasingly contributing to equipment financing. For households, growth was more modest, with consumer credit up 4.8% and housing loans up 2.6%. The relatively low growth in housing loans is partly attributed to real estate interest rates, averaging around 5.43%. Governor Abdellatif Jouahri noted that managing interest rate risk over 20-year maturities prevents a rapid transmission of policy rate reductions. Total bank credit reached 1,246.8 billion dirhams, with 1,039.7 billion directed to the non-financial sector. The ratio of non-performing loans was 8.3% in April, a slight improvement from the 8.8% peak in mid-2025, but still
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This summary was AI-generated from a story originally published by Le Matin.
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Driss El Yazami, in an interview, discussed the focus of the 13th edition of the Human Rights Forum on "world youth," highlighting its urgency due to the central role of youth in society and the numerous challenges they face. He noted that today's youth are growing up amidst multiplying crises, including a contested international order and a challenge to humanist values like equality, fraternity, pluralism, and democracy. The ecological crisis also adds to this complex global context. El Yazami identified war, authoritarianism, and obscurantism as major threats to freedom. He emphasized the fundamental link between peace and rights, drawing on his experience with the International Federation for Human Rights FIDH. Authoritarianism, he explained, stifles debate, peaceful dissent, and human creativity, while obscurantism, often fueled by certain ideologies, undermines fundamental rights like the right to life and restricts freedoms of expression and association. Regarding Moroccan youth abroad, El Yazami observed that they often express multiple identities, rejecting the pressure to choose a single belonging. He cited the 2011 Moroccan Constitution, particularly Article 16, which supports the rights and interests of Moroccans worldwide and encourages their contribution to Morocco's development while fostering ties with their countries of residence. This dual belonging, he noted, is a source of creativity, evident in the diverse languages used by Moroccan novelists today. On the
The 21st Mawazine Festival-Rythmes du Monde continued to captivate audiences in Rabat with a celebration of Moroccan culture on Tuesday, June 23, at the Mohammed V National Theater. The evening featured performances by Sanae Marahati and Nouamane Lahlou. Sanae Marahati, from Sefrou, opened the evening with qasidas from Moroccan Malhoun. During a press conference before her concert, she emphasized the importance of preserving and transmitting this intangible cultural heritage, calling it a "national duty" for artists and producers. For her second appearance at Mawazine, she compared Malhoun to wearing a caftan, a treasure honored on special occasions. Marahati also announced her new project, "Arassi Toub," a contemporary adaptation of a two-and-a-half-century-old Malhoun qasida, designed to connect younger generations with this ancestral art. Nouamane Lahlou followed with a musical fresco in four acts, accompanied by over 70 artists, including musicians, singers, dancers, and folk troupes. His performance showcased various aspects of Moroccan cultural identity, beginning with "Bladi Ya Zine Al Bouldane" and moving into an "anthropology of cities." Accompanied by folk troupes in traditional costumes, he highlighted regions and cities like Chefchaouen, Zagora, Ouazzane, Tafilalet, Marrakech, and Fes, through music, dance, and popular heritage. The third part of his show paid tribute to Abdelwahab Doukkali with a medley. Lahlou also explored the golden age of Arab song, blending