Morocco plans to sell the five-star La Mamounia hotel in Marrakech

Morocco plans to sell the five-star La Mamounia hotel in Marrakech and the Tahaddart power plant in a privatisation push Morocco plans to sell the five-star La Mamounia hotel in Marrakech and the Tahaddart power plant in a privatisation push to rein in the budget deficit in 2019, the government spokesman said on Thursday. The government approved a draft law allowing the sale of the two companies, Mustapha El Khalfi told a news conference. Morocco's 2019 draft budget aims to raise 5 billion to 6 billion dirhams ($527 million-$633 million) from selling state assets to cut the deficit to 3.3 percent of gross domestic product next year. (read more)