The Moroccan Economy in Brief: Saturday, April 17, 2021
Bank Al-Maghrib launches the service of centralization of irregular cheques:
Bank Al-Maghrib (BAM) launched, Thursday, the service of centralization of irregular checks (SCCI), whose management is delegated to the company Checkinfo, aiming to contribute to the improvement of the business climate by strengthening the credibility of the cheque. "The new SCCI is part of the initiatives undertaken by the Central Bank to strengthen the credibility of the cheque and contribute, ultimately, to improving the business climate," said Khalid Zbir, head of network management and presence at BAM, during a press briefing held for this purpose, via video conference.
Moroccan Customs unveils its 2020-2023 strategic plan:
The Administration of Customs and Indirect Taxes (ADII) has just unveiled its 2020-2023 strategic plan aimed at contributing to the effort to revive the national economy and strengthening the climate of trust between economic operators and the administration. With the main theme "For a Relationship Based on Trust", this plan, designed around six strategic objectives, comes in a difficult period marked by the economic and social repercussions of the pandemic of Covid-19, it emerges from the "Strategic Plan of the ADII 2020-2023".
Morocco 2nd African investor in France:
Morocco is the second African investor in France with 6 projects and the creation of 40 jobs in 2020, said Thursday in Rabat, Stephane Lecoq, Director of Invest activity of Business France, for the Maghreb and Sub-Saharan Africa. Speaking at a press conference, initiated by the regional economic service of the Embassy of France in Morocco and the representation of Business France in Morocco, to present the 2020 assessment of international investment in France, Lecoq said that three African countries are in the top 25 international investors in France, including Tunisia (20th) and Côte d'Ivoire (25th).
The investments of the Moroccan Treasury boost the money market:
The money market was boosted, during the week from April 8 to 14, with the Treasury's investments approaching about MAD 20 billion on average daily, an increase of 47% compared to a week earlier, according to BMCE Capital Research (BKR). The reduction in cash circulation was reflected in the deficit of bank liquidity whose average weekly outstanding amount was set at MAD 80.1 billion at the end of the past week, said BKR in its monetary and bond letter. In this wake and after three consecutive weeks of strengthening the 7-day advances, Bank Al-Maghrib (BAM) has reduced them by nearly MAD 10 billion to settle at 25.5 billion.
Payment delays: Very small businesses heavily impacted:
Very small businesses (VSEs) are heavily impacted by the extension of payment terms, especially in the context of health crisis, related to the Covid-19 pandemic. During a webinar under the theme "Payment times: Situation and rescue plan" organized by the Swiss Chamber of Commerce in Morocco, the director of studies and communication at Inforisk, Amine Diouri, explained that the VSE has been heavily impacted in terms of payment times, adding that this type of SME does not "suffer in the same orders of magnitude" that the VSE. "If we look at the situation of large companies, we see that the situation is quite paradoxical, insofar as the supplier deadlines are above the customer deadlines, in this case, the large company pays later than it receives its money, "said Douri.