December 17, 2014

Canada

Investment by 500 million euro in Morocco, central bank maintains interest rate

054580549476

The economic growth in Canada was promoted during the second half of 2013. Its rate hit 2.5% in the last quarter, reaching an average growth rate of 1.8% in the last year. Banks are expecting the national economy to grow by 2.5% in the years 2014 and 2015. The Canadian central bank kept the essential interest rate at 1%. The essential interest rate was lastly amended in 2010, when it was raised from 0.75% to 1%. The value of the Canadian dollar declined immediately after the emended decision, amounting to 0, 95 U.S. cents and continued to reach its current level 90, 19 U.S. cents. Canada put €500 million at the disposal of Morocco to promote investments and Canadian contracting exports that seek to invest in Morocco. It will allow the Moroccan contracting to buy the Canadian materials and services. However, the good exchanges increased between Canada and Morocco to reach $522, 6 million yearly in the year 2012, compared to $418, 9 million in the year 2011, i.e. with an increase of 25%. The volume of the Moroccan imports settled at $368, 5 million in 2012, while the average of exports reached 154, 2 million.