Archive for the ‘General Morocco News’ Category

Morocco Raised to ‘Investment Grade’

Thursday, April 22nd, 2010

Property In Morocco News. Morocco’s foreign currency debt has been raised to “Investment Grade” by Standard & Poor’s Ratings Services. Standard & Poor’s has thus raised its long-term foreign currency sovereign credit rating on Morocco to ‘BBB-’ from ‘BB+’, and its long-term local currency sovereign credit rating to ‘BBB+’ from ‘BBB’.

Standard & Poor’s also raised its short-term foreign currency sovereign credit rating on Morocco to ‘A-3′ from ‘B’ and its short-term local currency sovereign credit rating to ‘A-2′ from A-3′. It has also raised its transfer and convertibility assessment for Morocco to ‘BBB+’ from ‘BBB’.

In a press release, the Moroccan finance ministry has described this move as a “quantum leap”, which is a result of the reforms undertaken by the kingdom and macro-economic stability of the country.

Posted by Robert Shaw
Elite Morocco Properties
T: +44 (0) 208 529 3635
E: info@moroccoproperties.net
1: www.moroccoproperties.net
2: www.marrakech-property.net

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Morocco Exports Boosting Growth

Thursday, April 22nd, 2010

Moroccan Property News. Morocco’s economy would grow this year by more than the 3.5 percent forecast by the government earlier mainly because of a strong recovery in exports and good cereals harvest, the industry and trade minister said in April 2010. “We will record higher gross domestic product growth this year than we envisaged earlier. We will post more than the 3.5 percent of growth we had projected,” Ahmed Reda Chami told Reuters in an interview, citing rising exports, strong growth in construction and higher-than-average cereal crop. (more…)

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Jenson Button Buys Palatial Holiday Home In Marrakech

Friday, November 20th, 2009

Morocco Property In Marrakech: News. Jenson Button has bought a holiday home in Marrakech, Morocco paying more than 5 million GBP for the pleasure. The Formula One world champion is “clearly in the mood to celebrate being the new Formula One champion,” writes The Sunday Times. (more…)

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IMF Gives Moroccan Property Market A Vote Of Confidence

Friday, November 20th, 2009

Moroccan Property News. An International Monetary Fund (IMF) mission led by Mark Lewis visited Rabat from November 2-13. At the conclusion of the visit, the mission issued a statement praising economic performance. The full statement is the following: (more…)

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Facts About Morocco

Wednesday, May 20th, 2009

Moroccan Property News. Morocco is a fantastic year round destination and one of the most stable economies in northern Africa. In 2008, the IMF reported that its economy would grow on average by 5.5% annually over the next 5 years, even during the global financial crisis. It has a warm Mediterranean climate ideal for year round tourism, 1000’s miles of unspoilt beach and a rich history / culture.

Morocco is firmly established in the minds of international tourists and attracts the more discerning type of international traveller. A secure real estate market using the European notary system, mortgages widely available to international buyers and attractive tax laws make Morocco the ideal emerging market for property investment. (more…)

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What to do in Morocco

Thursday, April 30th, 2009

News For People Buying A Property In Morocco

News For People Buying A Property In Morocco.

Morocco has a lot to offer tourists; from a wide array of outdoor pursuits, distinct culture, history and food to some of the best beaches and most luxurious hotels money can buy, it really has something for everyone. For the more adventurous traveller, there are ample opportunities to immerse yourself in local tradition with welcoming local communities that can provide an unforgettable experience. Here are some examples to get you started. (more…)

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Wine thrives in Muslim Morocco

Monday, April 20th, 2009

Moroccan Property and real estate news

The gently rolling hills planted thick with vineyards are an unlikely sight for a Muslim country partly set in the deserts and palms of North Africa. Yet the grapes, and the wine they produce, are thriving in Morocco despite Islam’s ban on alcohol consumption.

Morocco has become one of the largest winemakers in the Muslim world, with the equivalent of 35 million bottles produced last year. Wine brings the state millions in sales tax, even though Islam appears to be on the rise politically.

“Morocco is a country of tolerance,” said Mehdi Bouchaara, the deputy general manager at the Celliers de Meknes, the country’s largest winemaker, which bottles over 85 percent of national output. “It’s everybody’s personal choice whether to drink or not.” (more…)

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