Sixth meeting of the Payment Deadlines Observatory: any late payment can lead to cases of bankruptcy and, correlatively, numerous job losses

HIBAPRESS-RABAT-MEF

Mrs. Nadia FETTAH Minister of Economy and Finance and Mr. Chakib ALJ President of the General Confederation of Moroccan Enterprises (CGEM) co-chaired, at the headquarters of the Ministry of Economy and Finance, the sixth meeting of the Payment Deadlines Observatory.

This meeting is part of the High Royal Guidelines 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, because any late payment can lead to bankruptcy and, correlatively, numerous job losses.

The purpose of this meeting was to take stock of the implementation of the new financial sanctions system established by Law No. 69-21 amending Law No. 15-95 forming the Commercial Code and enacting specific provisions relating to Payment period. The progress of the implementation of this mechanism, which entered into force on July 1, 2023, was presented by the Directorate General of Taxes.

The first assessment of this system shows a clear improvement in the payment time between companies and broad compliance with the requirements of this mechanism with 4,769 declarations made by the subject population for the third and fourth quarter of 2023. These results augur strong prospects for continuing to act in depth on the business environment and the release of entrepreneurial energies.

At the same time, the Observatory has given its approval to finalize and publish its fourth annual report, which will include the progress of the implementation of the above-mentioned system and the lessons learned from it.

This meeting took place in the presence of members of the Observatory reporting to the CGEM, the Ministry of Industry and Commerce, Bank Al-Maghrib, the Professional Group of Banks of Morocco (GPBM), the General Treasury of the Kingdom (TGR) and the Directorate of Public Enterprises and Privatization (DEPP).

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