The essence of BAM’s quarterly economic survey

Here is the gist of the quarterly edition of the industry economic survey, carried out by Bank Al-Maghrib (BAM), for the third quarter of 2021: – A business climate qualified as “normal” by 59% companies and “unfavorable” by 32% of them.

– Production conditions characterized by a supply of raw materials deemed “normal” by 72% of manufacturers and “difficult” by 24% and a “normal” level of stock of raw materials and semi-finished products.

– Workforce stagnating according to 70% of industrialists and increasing according to 21%. For the next three months, 68% of companies anticipate a stagnation of the workforce and 25% an increase.

– The high costs of inputs, insufficient demand and increased competition are mentioned by the bosses as being the main obstacles to the increase in production.

– Unit production costs on the rise according to 60% of companies.

– A cash flow situation described as “normal” by 82% of the bosses and “difficult” by 17% of them.

– Access to bank financing deemed “normal” by 89% of bosses and “difficult” by 11%, with a stagnant cost of credit according to the majority of manufacturers.

– Investment spending in stagnation according to 45% of bosses, up according to 38% and down according to 18%. These would have been financed up to 73% by own funds and 27% by loans.



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