According to the Minister of Economy, Finance and Administrative Reform, Mohamed Benchaâboun, in the context of the health crisis, support for Moroccan businesses was not limited to large structures, specifying that 89% of beneficiaries of the “Damane Oxygene” program are very small companies whose turnover does not exceed MAD 10 Million and 11% of which small and medium-sized enterprises of which 10% achieve a turnover between MAD 10 and 200 Million and 1% generate a turnover between MAD 200 and 500 Million.
Concerning public establishments and companies, Benchaâboun put forward a series of measures intended to support establishments affected by the crisis, through the establishment of a special guarantee to allow impacted BPS to benefit from new financial resources, in order to strengthen their permanent financing, support their activities, guarantee sustainable growth and reduce their debts to small and medium-sized enterprises (SMEs).
In this regard, special support has been reserved for the National Office for Electricity and Drinking Water (ONEE), which has benefited, at this stage, from an urgent transfer of one billion dirhams of the general budget of the state, he said, noting that Royal Air Maroc (RAM) will in turn benefit from financial support of MAD 6 billion.
And to continue that the second step, as part of the strategy for managing this crisis, aims to support companies over the next six months to resume their activities in parallel with the gradual reduction of sanitary confinement, with the aim of safeguard jobs, which is reflected in the provisions contained in PLFR 2020.
In this sense, Benchaâboun indicated that the remaining balance of the Special Fund will be devoted to the pursuit of social support for sectors which will continue to face the difficulties brought about by the pandemic, adding that this support will be activated in a contractual framework with the different stakeholders based on safeguarding employment and integration into the formal sector.