Italy’s Eni to boost natural gas production in Egypt
Italian energy company Eni plans to boost natural gas production in Egypt by 200 million cubic feet per day starting
Despite increases over the past two years, inflation in Morocco is stabilizing, growing at an annualized rate of 2.4% at the end of June 2024. That’s according to the latest data from the High Commission of Planning (HCP). Since November 2022, inflation in Morocco had risen significantly, reaching a peak of 10% in February 2023, due to much higher food prices. In a bid to reduce inflation, Morocco’s central bank, Bank Al-Maghrib (BAM), upped the benchmark interest rates from 1.5% to 3%, before reducing it again last month. The goods most impacted by inflation were food and energy prices with the highest rise in prices recorded in gas at 10%. The second-highest increase was recorded in fruits at 4.5%, followed by meat at 2.2%.
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