The outlook change to stable reflects the recovery in real GDP to pre-pandemic levels and Morocco's crisis management capacity demonstrated during the pandemic, the US benchmark agency wrote in a new analysis.

"The improved governance track record underpins Moody's expectation that the government will be able to implement gradual fiscal consolidation that stabilizes the debt ratio and fiscal accounts, while maintaining social stability in the face of Morocco's exposure to the food and energy price shock" triggered by the war in Ukraine, it added.

According to Moody's, the Ba1 rating affirmation reflects Morocco's economic resilience and the build-up of significant foreign exchange reserves covering over six months of imports at the end of 2021, providing a buffer to absorb the impact of the global commodity price shock.

"The credit profile is constrained by higher general government debt levels than the median of Ba-rated sovereigns, Morocco's exposure to contingent liabilities stemming from state-owned enterprises (SOEs), comparatively low-income levels, and relatively subdued trend growth," the agency said.

Morocco's country ceilings remain unchanged, noted Moody's, adding that the local currency ceiling remains at Baa1, three notches above the sovereign rating, reflecting predictable institutions and low external vulnerability risk, balanced by a large public sector footprint.

The foreign currency ceiling at Baa2, one notch below the local currency ceiling, reflects relatively modest transfer and convertibility risks notwithstanding the existence of capital controls, it added.

Supported by the government's targeted investment and income support measures implemented during the pandemic, real GDP recovered to pre-pandemic levels at the end of 2021, buttressing economic resiliency.

After slowing to 2% in 2022 due to severe drought conditions and the adverse economic impact of high inflation, Moody's expects average annual GDP growth to converge to 3-3.5% by 2025.

"The track record of coherent macroeconomic policies implemented in recent years and during the pandemic is reflected in improving government effectiveness indicators recorded in the Worldwide Governance Indicators, which support Moody's assessment of Morocco's improving governance profile."

The government's crisis management capacity demonstrated during the pandemic is reflected in the relatively high coronavirus vaccination rates achieved compared to regional peers, the implementation of digital tools to extend support to households in the informal sector, and the focus on strengthening the social safety net, the agency concluded.

The holding of the regular session of this body that includes MPs representing five countries (Bolivia, Colombia, Ecuador, Peru, and Chile), has a special significance and comes in support for the efforts made by official and parliamentary diplomacy, Talbi Alami told the press, on the sidelines of the visit of a delegation of members of the Andean Parliament to Laayoune.

The holding of this "very symbolic" meeting is a further confirmation of the Moroccanness of the Sahara, he stated, adding that this event is part of the lower house's strategy to support South-South cooperation and share experiences between African and South American countries, in implementation of the High Directives of HM King Mohammed VI.

The members of the Andean Parliament, visiting the Kingdom on July 1-9 at the invitation of their Moroccan counterparts, were "impressed" by the large-scale projects launched in Laayoune and the efforts made by the Kingdom for the development of its southern provinces, Talbi Alami said.

For his part, Mayara noted that the upcoming ordinary session of this parliamentary organization confirms support for the Moroccanness of the Sahara. This visit has allowed the Andean parliamentary delegation to learn about development projects underway in Laayoune, he added.

These projects illustrate the level of socio-economic progress in the region Laayoune-Sakia El Hamra and development efforts to meet the aspirations of the local population, Mayara added.

The Speaker of the House of Advisors also emphasized the importance of this visit and of the exchange of experiences in consolidating South-South cooperation.

"The city of Laayoune, which I visit for the second time, is undergoing a comprehensive development to improve the life quality of its inhabitants, especially in terms of infrastructure and new technologies," Sandoval told the press on the occasion of his visit Monday to Laayoune, at the head of a delegation of Andean parliamentarians 

He also highlighted the action taken by the Kingdom, under the leadership of HM King Mohammed VI, to develop the education sector through the training of qualified human resources.

Sandoval noted the importance of holding the Andean Parliament's regular session in Laayoune, expressing his desire to further consolidate friendship bonds with Morocco and benefit from the Kingdom's experience in various fields, including new technology and human capital development.

This visit was an opportunity for the members of the Andean Parliament to learn about the socio-economic development momentum underway in the region Laayoune-Sakia El Hamra.

The members of the Andean Parliament -- a body of 25 elected members consisting of five MPs from each country (Bolivia, Colombia, Ecuador, Peru and Chile)-- witnessed firsthand the economic momentum and the attractiveness of regional investments, in line with the vision of His Majesty the King, which aims to turn the southern provinces into a powerhouse of development at regional and continental levels.

Accompanied by the speakers of the House of Advisors and the House of Representatives, Naama Mayara and Rachid Talbi Alami, the members of the Andean Parliament visited large-scale projects in Laayoune. They were also informed of the different infrastructures that are part of the development model for the southern provinces.

Earlier in the day, the delegation had talks with the wali of the region Laâyoune-Sakia El Hamra, governor of the province of Laâyoune, Abdeslam Bekrate, and the president of the Regional Council, Sidi Hamdi Ould Errachid, in the presence of elected officials.

On this occasion, Bekrate noted that the region of Laayoune-Sakia El Hamra experiences a qualitative leap in terms of public and private investment.

The local official also noted that the recent elections have resulted in the election of legitimate representatives of the people of the southern provinces who enjoy security and stability.

For his part, Ould Errachid said that this visit has allowed seeing in situ the efforts made through several infrastructure projects in different areas, including the social field, higher education and health.

This visit to the Kingdom, which will continue until July 9, is part of the strengthening of South-South cooperation advocated by HM King Mohammed VI, as well as the consolidation of the existing partnership between the Moroccan parliament and its Andean counterpart.

The Moroccan Parliament and its Andean counterpart had signed, in July 2018, a memorandum of understanding to establish channels of communication and parliamentary interaction through the exchange of visits, experiences, information and documents.

Under this MoU, the Moroccan Parliament has the status of advanced partner with this parliamentary organization.

The Andean Parliament is the governing and deliberative body of the Andean Community. It was created on October 25, 1979, in La Paz (Bolivia), through the Constitutive Treaty signed by the chancellors of Bolivia, Colombia, Ecuador, Peru and Venezuela. It entered into force in January 1984.

This visit, which took place in the presence of National Museums Foundation President, Mehdi Qotbi, was an opportunity for the Singaporean minister to discover the exhibitions underway at the MMVI, which bring together masterpieces of modernity and art history made by national and foreign artists.

This tour allowed Mr. Balakrishnan and the delegation accompanying him to admire the various masterpieces on display and learn about their stories, including the exhibition of photographic works of Touhami Ennadre, "Black Qasida", as well as the exhibition "Africa seen by its photographers", which is a tribute to the pioneer of African photography, Malick Sidibé.

On this occasion, Singapore's top diplomat said he was pleased with this richly artistic visit to the MMVI, highlighting the priceless value of treasures on display at this shrine of culture.

In a statement to MAP, he expressed the wish to see these works exhibited in the Museums of Singapore, while praising the great importance and special interest that HM King Mohammed VI gives to the cultural thing, as well as the efforts made by the Sovereign to promote this field.

For his part, Qotbi noted that the Kingdom of Morocco and the Republic of Singapore are determined to raise the bilateral cultural relations, adding that this visit will give a new impetus for a cultural partnership further strengthened.

These surveys, which cover the entire national territory with sufficiently broad samples, will shed light on the situation at the level of the most relevant administrative units, said Lahlimi during a meeting dedicated to the HCP program.

These surveys will provide updated data on investment, production and intermediate consumption of companies, by product, industry and by territorial level, he added. This will allow the switch of national accounts to the 2022 base year instead of 2014, explained Lahlimi.

These surveys will also cover non-profit institutions to provide more detailed data on the country's civil society, assess its contribution to national wealth and understand its socio-economic characteristics.

Social surveys will focus on household living standards, becoming the main source of knowledge on income distribution, social inequalities and the evolution of the poverty index, he added.

According to Lahlimi, the 2022-2025 HCP program intends to use the New Development Model (NMD) as a strategic reference for the analysis of the Sustainable Development Goals (SDGs).

"Today, the strategic frame of reference of our survey and study activities is enriched and structured by the economic, social, environmental and territorial orientations retained by the NMD and enacted by His Majesty the King as the basis of the national development pact of our country," he said.

Morocco's goals were scored by Hamza Anhari (45th), Abdellah Raihani (46th), Aiman Maurer (73rd), and Omar Sadik (85th), while Habib Bicer reduced the gap for Turkey twice (14th and 57th).

The final will pit France against Italy, which beat Morocco in the semifinals (2-1).

Speaking at a meeting held with the aim to assess the HCP activities, Lahlimi underlined the various axes of the program aimed at turning the new development model (NMD) into a strategic frame of reference for analysis of Sustainable Development Goals (SDGs).

On this occasion, Lahlimi noted that HCP's activities program for 2022-2025 aims initially to turn the NMD into a strategic reference for contextualization and analysis of the SDGs.

In this regard, he stressed that the strategic frame of reference of HCP's survey and study activities is now enriched and structured by the economic, social, environmental and territorial guidelines adopted by NMD and endorsed by HM King Mohammed VI, as the basis of the country's national development pact.

"The program also focuses on ways of carrying out major national surveys of structure", he stressed, noting that structural surveys are being prepared or already initiated.

According to Lahlimi, this program also focuses on the continued development of the arsenal of tools dedicated to economic and social analysis.

As part of the decentralized cooperation between Morocco and Italy, this agreement was initialed by the mayors of Tan-Tan, Habib Louamane, and Latiano, Cosimo Mairano, in the presence of representatives of local authorities and the civil society.

This convention opens promising prospects for the consolidation of partnership ties in various sectors, including tourism, environment, culture, sports and community action given the notorious growth of the Kingdom's southern provinces.

On this occasion, Latino's mayor expressed the willingness of his city to strengthen trade relations with Tan-Tan, noting that the Italian municipality will ensure the strengthening of communication between young people of the two cities, through partnerships and exchange programs.

For his part, the mayor of Tan-Tan has expressed his willingness to establish ''sustainable and mutually beneficial relations in all areas of common interest'' with the Italian city.

"Our municipality is aware of the impact that could have such a dynamic cooperation and partnership between the two sides and is committed with all its potential and its assets to work for the success of this partnership," Louamane noted, highlighting Tan-Tan's progress and its economic promising "potential."

This twinning initiative is "a unique model of solidarity and mutual respect and reflects the firm commitment of Morocco and Italy to establish decentralized cooperation as a strategic choice," said Morocco's Consul in Naples, Abdelkader Naji, during the signing ceremony. 

In this regard, Naji emphasized the dynamism of Moroccan Sahara, under the enlightened leadership of HM King Mohammed VI, becoming a strategic regional hub in terms of transatlantic connectivity and between Europe and Africa.

The Council will begin its works with a presentation delivered by the Minister of Solidarity, Social Integration and Family on "Morocco's participation in the review of the national report before the Committee on the Elimination of Discrimination against Women, held on June 21-22, 2022, in Geneva," said a press release from the Department of the Head of Government.

Afterward, the Council will consider three draft decrees: the first draft decree relates to the implementation of Article 212 of Law 40.13 on civil aviation, while the second pertains to the organization of youth institutions under the supervision of the government authority in charge of youth and the third identifies a list of diseases entitling to a medium sick leave.

The Council will also examine proposals for appointments to high office in accordance with the Constitution's Article 92, the press release concluded.

The Kingdom represents a model of tolerance, living together, openness and respect for religious minorities, considering that these are "special and valuable" values, said Balakrishnan at a joint press briefing with Minister of Foreign Affairs, African Cooperation and Moroccans abroad, Nasser Bourita, at the end of bilateral talks.

Indeed, Morocco sends a strong message to the rest of the world about tolerance and respect, said Singapore's top diplomat, who is on a working visit to Morocco.

Expressing his admiration for the Kingdom's leadership under the enlightened guidance of HM Mohammed VI, the official highlighted the invitation extended by the President of the Republic of Singapore, Halimah Yacob, to the Sovereign to pay an official visit to his country to bring forward the history of Morocco and its principles of tolerance.