CEMAC zone: recession could reach 6% according to BEAC

All the indicators are certainly not red. But most of the economic indicators in the six countries of the Economic and Monetary Community of Central Africa (CEMAC) are already found the Monetary Policy Committee (CPM) of the Bank of Central African States (BEAC) at the end of the second annual session on June 24, 2020 in Yaoundé.

Analyzing the situation in Central Africa, it emerges that in the short and medium terms, the CEMAC zone is affected by the health crisis and the fall in the prices of the main export products. "

"In the first half of 2020, the revival of productive activities was slowed down in the sub-region by the disruption of supply circuits for imported products as well as by the restrictive measures adopted by the various governments to contain the effects of the pandemic. Although it is premature for the moment to fully grasp the impact of COVID-19 on national economies, it is already anticipated during this first semester a drop in production as well as a det…

Effects of containment: Moroccans consume more at all levels

Water, electricity, basic necessities. Consumption without moderation. Shopping is going up like never before. During confinement, consumption registers inconsiderate peaks. All-day use of household appliances and other electronic gadgets has resulted in a substantial increase in electricity consumption. That of water too, of course. In the absence of recent statistics on the extent of this consumption, a source internal to Lydec confirms this increase, which is, after all, normal, and tells us that the agents in the field are the only ones at the moment to have the actual levels of this water and electricity consumption.
Moroccans consume more at all levels

Recall that Lydec, a water and electricity distributor in Greater Casablanca, had made as the one and only proposal during this period of state of health emergency the freezing of the suspension of its services for non-payment of invoices. An insufficient measure for the Casablancans, who expected a more significant civic gesture in favor of the poorest households. That said, containment encourages overconsumption at all levels. In addition to water and electricity, Moroccans have rushed to supermarkets to get excess supplies.

An unwarranted rush since the authorities had assured that Morocco has a largely sufficient stock of food products that could cover several months. Despite government assurances, Moroccans still fear running out of food during these times of confinement where snacking day and night has become a habit for everyone. This panic increases logically with the approach of the month of Ramadan, considered to be the month of high consumption par excellence. This psychosis then seems to have taken a notch up among citizens since the influx on shops and purchasing volumes were far above normal. Busy by Moroccans, stores are always full. This is how their turnover continues to achieve absolute daily records compared to normal times.

Faced with this situation of panic, the authorities are increasing media outlets to reassure Moroccans and say that the departments concerned are mobilized to ensure regular monitoring of the situation on the markets and distribution channels, while recalling the establishment of a strategic watch committee which meets every two days to assess the situation and intervene if necessary in order to guarantee the stability of supply on the national market and avoid any possible malfunctions.