{"id":8757,"date":"2025-06-18T19:12:32","date_gmt":"2025-06-18T17:12:32","guid":{"rendered":"https:\/\/www.lexisma.info\/?p=8757"},"modified":"2025-06-18T19:12:32","modified_gmt":"2025-06-18T17:12:32","slug":"mise-en-ligne-par-la-direction-des-etudes-et-des-previsions-financieres-de-la-note-de-conjoncture-n-338-du-mois-de-mai-2025","status":"publish","type":"post","link":"https:\/\/dev.pagelt.com\/lexisma2026\/mise-en-ligne-par-la-direction-des-etudes-et-des-previsions-financieres-de-la-note-de-conjoncture-n-338-du-mois-de-mai-2025\/","title":{"rendered":"Mise en ligne, par la Direction des \u00e9tudes et des pr\u00e9visions financi\u00e8res, de la Note de conjoncture n\u00b0 338 du mois de Mai 2025"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">La Note de conjoncture n\u00b0 339 du mois de MAI 2025 a \u00e9t\u00e9 mise en ligne par la Direction des \u00e9tudes et des pr\u00e9visions financi\u00e8res (DEPF), pr\u00e8s du minist\u00e8re de l\u2019\u00c9conomie et des Finances.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sur le plan international, la note nous apprend :<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00b7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Perspectives de ralentissement de la croissance mondiale (2,8% en 2025 contre 3,3% en 2024, selon le FMI).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00b7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;Zone euro : croissance mod\u00e9r\u00e9e (0,9% en 2025, selon la Commission europ\u00e9enne), avec une stagnation en Allemagne, un ralentissement en France (0,6%) et une r\u00e9silience relative en Espagne (2,6%) et en Italie (0,7%).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00b7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Euro : &nbsp;1,13 dollar le23 Mai,&nbsp; marquant une appr\u00e9ciation de 10,8% depuis son creux en janvier.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00b7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; P\u00e9trole : 65,5 dollars le baril de Brent le 3 Mai , en chute de 18%&nbsp; en glissement annuel<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sur le plan national, &nbsp;la note met en exergue, entre autres &nbsp;indicateurs :<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00b7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;Secteur primaire : production c\u00e9r\u00e9ali\u00e8re de la campagne agricole 2024-2025 estim\u00e9e \u00e0 44 millions de quintaux, en hausse de 41% par rapport \u00e0 la campagne pr\u00e9c\u00e9dente et perspectives favorables pour les autres cultures et l\u2019\u00e9levage ; hausse de la valeur des d\u00e9barquements de la p\u00eache c\u00f4ti\u00e8re et artisanale (+2,5% \u00e0 fin avril 2025).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00b7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Secteur secondaire : \u00e9volutions globalement positives \u00e0 fin mars 2025, au niveau du secteur manufacturier (TUC : 78,1%), du secteur extractif (production de phosphate brut : +11,9%), de l\u2019\u00e9nergie \u00e9lectrique (production : +5%) et du secteur du BTP (ventes de ciment : +10,3% \u00e0 fin avril 2025)&nbsp;;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00b7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Secteur tertiaire : renforcement de l\u2019activit\u00e9 du secteur du tourisme (arriv\u00e9es : +1 million \u00e0 5,7 millions \u00e0 fin avril ; recettes voyages : +2,4% \u00e0 fin mars) ; consolidation de la croissance du trafic a\u00e9rien de passagers au T1-2025 (+16,4%) ; \u00e9volution positive du secteur des t\u00e9l\u00e9communications \u00e0 fin mars 2025 (parcs mobile et internet : +3,9% et +4,1% respectivement)&nbsp;;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00b7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hausse des exportations de 1,5% \u00e0 fin mars&nbsp;;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00b7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Augmentation des importations de 6,9% \u00e0 fin mars&nbsp;;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00b7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hausse du d\u00e9ficit commercial de 16,9% et diminution du taux de couverture de 3,3 points, atteignant 61,8% \u00e0 fin mars&nbsp;;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00b7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Avoirs Officiels de R\u00e9serve : couverture de 5 mois et 4 jours d\u2019importations de biens et services \u00e0 fin mars.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">Source<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">Minist\u00e8re de l\u2019\u00c9conomie et des Finances<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Consulter&nbsp;<a target=\"_blank\" href=\"http:\/\/www.finances.gov.ma\/Publication\/depf\/2025\/nc339-2025.pdf\" rel=\"noreferrer noopener\">ici<\/a>&nbsp;le document.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Pas encore utilisateur Lexis\u00aeMA&nbsp;? &nbsp;R\u00e9servez imm\u00e9diatement votre d\u00e9monstration sur <a href=\"https:\/\/info.lexis.ae\/ma-d\u00e9mos-solutions-lexisnexis-au-maroc\" target=\"_blank\" rel=\"noreferrer noopener\">Demande de d\u00e9mo LexisMA<\/a><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Pour d\u00e9couvrir davantage d\u2019actualit\u00e9s et d\u2019autres contenus juridiques disponibles, rendez-vous sur <a href=\"http:\/\/www.lexisma.com\/\">LexisMA.com<\/a><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>La Note de conjoncture n\u00b0 339 du mois de MAI 2025 a \u00e9t\u00e9 mise en ligne par la Direction des \u00e9tudes et des pr\u00e9visions financi\u00e8res (DEPF), pr\u00e8s du minist\u00e8re de [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-8757","post","type-post","status-publish","format-standard","hentry","category-news"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.1 (Yoast SEO v28.1) - 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