The government Council, convened under the chairmanship of head of government, Saad Dine El Otmani, on Tuesday adopted the Amended Finance Bill (PLFR) No. 35.20 for the year 2020.
The bill was adopted during this meeting after presentation of its general orientations in accordance with the provisions of article 49 of the Constitution during the Council of Ministers chaired on Monday by HM King Mohammed VI at the Royal Palace in Rabat, said minister of National Education, Vocational Training, Higher Education and Scientific Research, government spokesman, Saaid Amzazi in a statement read at a press briefing at the end of the government Council.
The text was approved after discussion of the presentation made by the minister of Economy and Finance and Administration Reform who referred to the national and international contexts, marked in particular by the Covid-19 pandemic, noted Amzazi, adding that the presentation highlighted the pillars of the general orientations of the PLFR, namely the support of the gradual recovery of economic activity, the preservation of employment and the acceleration of the implementation of administrative reforms.
Regarding the support of the gradual recovery of economic activity, the bill insists on the implementation, within the framework of sectoral agreements, of measures taking into account the specificities of each sector, in relation to the extent of the impact suffered as a result of the crisis and the time needed for the resumption of activity, he said, noting that five billion dirhams will also be earmarked to support the implementation of guarantee mechanisms for the benefit of all segments of enterprises, including public ones.
Advantageous conditions will be applied through a maximum interest rate not exceeding 3.5%, and a repayment period of 7 years, with a two-year grace period and a State guarantee varying between 80% and 90% and up to 95% for very small enterprises, noted the government spokesman, adding that the Central Guarantee Fund will also undergo institutional reform through the amendment and adaptation of the law governing the Fund to international best practices, the optimization of governance and the modernization of financial management.
He also indicated that a sum of 15 billion dirhams will be dedicated to the promotion of public investment to reach 86 billion dirhams in order to accelerate the revitalization of the national economy.
With regard to the preservation of employment, it is a matter of continuing to provide social and economic support to the sectors facing difficulties, in accordance with the Royal guidelines, the same source stressed.
As for speeding up the implementation of administrative reforms, the PLRF provides for the strengthening of the business climate by accelerating the simplification and digitization of procedures, speeding up the implementation of the public services Charter and promoting financial inclusion, notably through the generalization of payment using electronic tools.
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