The sixth meeting of the Observatory of Payment Delays was co-chaired by Mrs. Nadia FETTAH, Minister of Economy and Finance, and Mr. Chakib Alj, President of the General Confederation of Moroccan Enterprises (CGEM), at the headquarters of the Ministry of Economy and Finance.
This meeting is part of the Royal High Directions set out in the Speech of August 20, 2018, on the occasion of the 65th anniversary of the Revolution of the King and the People calling on public administrations and local authorities in particular to pay their dues to businesses, as any delay in payment can lead to cases of bankruptcy and, correlatively, many job losses.
The purpose of the meeting was to report on the implementation of the new system of financial penalties introduced by law no. 69-21 amending law no. 15-95 forming the Commercial Code and enacting special provisions relating to payment terms. The status of implementation of this mechanism, which came into force on July 1, 2023, was presented by the Tax Directorate.
The first assessment of this scheme shows a clear improvement in payment times between companies, and widespread compliance with the scheme's requirements, with 4769 declarations made by the taxable population in the third and fourth quarters of 2023. These results augur well for the future, as we continue to take far-reaching action to improve the business environment and unleash entrepreneurial energies.
At the same time, the Observatory has given the go-ahead to finalize and publish its fourth annual report, which will include a progress report on the implementation of the above-mentioned scheme and the lessons learned from it.
The meeting was attended by Observatory members from CGEM, the Ministry of Industry and Trade, Bank Al-Maghrib, the Moroccan Professional Banking Group (GPBM), the Kingdom's General Treasury (TGR) and the Department of Public Enterprises and Privatisation (DEPP).