The Economic Watch Committee (EWC) held its 11th meeting on January 6th, 2020 in order to follow the evolution of the Kingdom’s health and economic situation.
Following this meeting, several decisions have been taken:
The EWC decided to extend the deadline for granting recovery credits until March 31st, 2021 and introduction of easing measures, in addition to improving terms for using this facility. These measures relate to the following aspects:
The EWC decided to keep supporting measures until March 31st, 2021. In fact, it was decided to grant further compensation of MAD 2K for the employees registered to CNSS.
Also, an amendment to the program contract for the Recovery of the tourism sector was signed. Moreover, the said amendment contains provisions specific to the tourist transport sector. The benefit of these provisions is to postpone the payments of loans contracted with banks and finance companies.
Four new program contracts covering the press sector, cultural and creative industries, private sports halls and nurseries were signed during this meeting. These program contracts include social and economic support measures for preserving employment and supporting entrepreneurial activity in the concerned sectors.
Finally, a program contract was signed to support CNSS’s affiliated catering companies which are affected by the decisions taken to contain the spread of the pandemic. This program contract takes effect starting from 1st January 2021.
NAZALI TAX & LEGAL