Highlights

Holding of the 5th meeting of the Payment Deadlines Observatory

23/10/2023
Holding of the 5th meeting of the Payment Deadlines Observatory

Mrs. Nadia FETTAH, Minister of Economy and Finance, chaired, October 23rd 2023, in Rabat, the fifth meeting of the Payment Deadlines Observatory, alongside Mr. Chakib Alj, President of the General Confederation of Moroccan Enterprises.

This meeting is part of the continuation of the dynamic stemming from the royal directives contained in the royal speech dated August 20, 2018 on the occasion of the sixty-fifth anniversary of the king and the people. The royal guidelines have called for giving particular attention to the issue of payment deadlines due to their impact on the sustainability of companies, the dynamism of the economic fabric and the improvement of the business climate.

The aim of this meeting is to assess the results of the measures taken and to determine the actions to be launched in order to pursue the roadmap drawn up by the Observatory to improve payment times and safeguard companies' rights.

In this respect, the members of the Payment Deadlines Observatory have noted the development of the new system aimed at reducing payment times, which has been updated in accordance with Law no. 69.21, amending Law no.15.95 pursuant to the Commercial Code and the promulgation of the transitional provisions on payment times, effective as of July 1, 2023. The aim is to establish balanced relations between companies and reduce payment times in the private sector.

This system will be managed by the General Tax Directorate, which will ensure that the necessary resources are mobilized for the proper implementation of the aforementioned law, with the aim of promoting a responsible performance culture and creating a business environment.

The Observatory has also agreed to publish its third annual report, which confirms the positive results followed by the two reports published in 2021 and 2022 respectively, demonstrating a significant reduction in payment times, particularly in the public sector (the State, local authorities, public establishments and companies), despite the unstable economic context due to inflationary pressures.