Co-funded by the European Union

Morocco: outcomes of the Economic Monitoring Committee

  • A Committee, composed of governmental members and representatives of the business sectors, met nine times to monitor the economic situation and present concrete solutions.

In Morocco, the Economic Monitoring Committee (“Comité de Veille Economique” - CVE) was established with the aim of following the economicl situation as well as defining ad-hoc measures and responses to the consequences of Covid-19 pandemic.

The Committee was composed of governmental members and employers’ organisations and business associations.

The General Confederation of Moroccan Enterprises (Confédération Générale des Entreprises du Maroc – CGEM), an IOE Member, was involved in the entire process. Throughout its nine meetings so far, the CVE achieved important outcomes, namely:

  • Suspending social security contributions and the payment of credits until 30 June 2020;
  • Allocating MAD 2000 net to all employees registered before the national social security, plus family allowances (through the special Covid-19 fund) until 30 June 2020;
  • Establishing specific plans to support sectors (CGEM in conjunction with the sectoral organisations concerned);
  • Elaborating relief mechanisms for companies with more than 500 employees and having lost revenue between 25% and 50%;
  • Supporting financially informal sector workers and families for a total of 4,1 millions of households;
  • Establishing a specific programme of financial support for MSMEs called “Damane Oxygène”

After the last CVE, on 6 August 2020, the Minister of the Economy, Finance and the Reform of the Administration, Mohamed Benchaâboun, the Presidents of the CGEM, Chakib Alj, and of the Professional Group of Banks of Morocco (GPBM), Othman Benjelloun, signed the "Pact for economic recovery and employment" which includes cross-cutting measures while taking account sectoral specificities.

Moreover, a special programme-contract for the revival of the tourism sector in the post-Covid19 phase was released. This document contained a series of relief measures aiming at protecting employment, accelerate the recovery and sustainably transform the entire sector throughout the period of 2020-2022.

CGEM was highly positive of the entire process since it allowed the private sector to share its concerns and at the same time contribute to the maintain of the same level of employment. Mr. Alj, CGEM President, indicated that “the Pact for economic recovery and employment is the basis of shared responsibility for an effective, sustainable and inclusive economic recovery, noting that this public-private contract defines the commitments of all stakeholders to make this historic turning point”.

He recalled that “the commitments of business leaders to protect the health of their employees, to preserve their sources of income, to invest, to create jobs, as well as to contribute actively to the country's development”.