Mr. Mohamed BENCHAABOUN, Minister of Economy and Finance, presented Tuesday, July 2nd 2019 in the House of Councillors the new measures his department implemented on payment terms.
In reply to an oral question on "the upsurge in the number of companies facing bankruptcy due to lack of liquidity", presented by the Istiqlalien Group for Unity and Equality, the Minister stated that the payment terms for each public institution will be published in a transparent way as from next October.
He also stressed that the interest rate in case of late payment was increased, reaching 5.25% in 2019 and 2020 and 6.25% as of January 2021.
Thus, the Minister stated that these measures are part of the High Guidelines of His Majesty the King in his Speech of August 20th 2018 and reviewed the Government’s actions to reduce the payment terms. In this respect, he pointed out that the Ministry of Economy and Finance, issued a circular, September 18th 2018, to managers of public institutions and companies and launched the electronic platform "AJAL" devoted to complaints processing.