Morocco Injects $600 Million to Rescue National Airline Amid COVID-19 Crisis

During the discussions on the draft amending finance law with the parliamentary groups in the House of Representatives on Monday, July 13, the Minister of Finance revealed the news to the parliamentarians, reports Le360. According to him, it is the state support to public companies impacted by the Covid-19 health crisis.

The government has also planned to financially support ONEE through an emergency envelope of 1 billion dirhams, mobilized through the general state budget.

This financial support represents nearly 37% of the financial support needs expressed by all Public Establishments and Enterprises (EEP), i.e. a total of 16 billion dirhams, of which 10 billion dirhams immediately (guarantee, subsidies, capital, etc.).

For the Minister of Finance, 89% of the beneficiaries of the Damane Oxygène program are VSEs with a turnover not exceeding 10 million dirhams, compared to 11% for SMEs (10% for companies with a turnover between 10 and 200 million dirhams and only 1% for companies with a turnover between 200 and 500 million dirhams).