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الصحيفة
Hormuz closure may raise Morocco's energy costs
The article discusses the impact of rising oil prices, especially due to the potential closure of the Strait of Hormuz, on the Moroccan economy. If Brent prices remain stable above $120, Morocco's energy bill is expected to double and reach between 165 and 175 billion dirhams, thereby increasing the trade deficit to around 470 billion dirhams or more. Data also indicates that the energy bill amounted to 81.2 billion dirhams by the end of July, with costs expected to continue rising if oil prices stay high, further deepening the trade deficit and exerting significant pressure on hard currency reserves. Consequently, the closure of the strait could trigger an economic crisis that affects the exchange rate and threatens Morocco's trade balance stability, with the trade deficit possibly increasing to half a trillion dirhams if the crisis persists until the end of the year.
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