Morocco Unveils Economic Stimulus Measures to Support Businesses and Individuals

Individuals and businesses are the targets of the new measures taken by the Economic Monitoring Committee during its 7th meeting last Friday by videoconference. Flexibility and flexibility are the characteristics of the new measures aimed at relaunching the economic sector currently under preparation. The banks have received the support of the State for the granting of massive financing to all segments of public and private companies. Support that respects the State’s commitment to preserve employment, reduce inter-company credits and restore confidence.

The development of recovery plans has been initiated. The plans will be the subject of studies and discussions during the next meetings of the CVE. After this stage, they will be consolidated and made coherent within the framework of a global recovery plan, the CVE specified. The State and the banking sector will cover the entire interest charges generated by the deferral of housing and consumer credit maturities, for the period from March to June 2020. Around 400,000 people should benefit from the deferral of credit maturities, the CVE reported. This coverage responds to the commitments made to individuals whose incomes have fallen due to the state of health emergency.

Many actions have been instituted by the CVE in order to prepare the conditions for a good resumption of business activities. This involves the implementation of a new, flexible system that covers all segments of companies making up the national fabric. Conditions for access to financing in favor of Very Small Enterprises (VSEs), Small and Medium Enterprises (SMEs) and Intermediate-Sized Enterprises (ETIs) and a revision of Damane Oxygène are also planned.