Hundreds of companies suffered economic crisis due to suspension of activities for more than three months due to the COVID-19-induced lockdown.
Rabat – Approximately 44% of companies have brought back all of their employees to work after Morocco eased the COVID-19-induced lockdown.
A new notice from Morocco’s High Commission for Planning (HCP) said 81% of companies cut their workforce.
The companies said that 56% of the companies refusing to bring back some workers believe that these employees are not qualified. This is more common in the construction and industrial sectors, with 74% and 67%, respectively.
Companies argue that there should be a set of “necessary” measures to bring back employees, including reducing taxes and suspension of social contributions.
Another 38% of companies believe that their business will start normal recruitment in a year or more.
For 61% of business owners, the resumption of recruitment activities will return to normal before the end of this year.
About 38% of construction companies do not expect the resumption of recruitment within the next year.
About 67% of companies said that it will not finish projects they started. About 29% of businesses expect to postpone investments, while 17% are considering canceling investments.
Approximately 21% of businesses are considering reducing investments due to the COVID-19 crisis.
The unprecedented economic crisis, sparked by COVID-19, forced hundreds of Moroccan businesses to close their doors amid restrictions and preventative measures.
Some of the companies have managed to resume activities, while others could not survive the crisis.
Morocco’s government has been vowing to assist businesses that suffered the COVID-19 pandemic economic crisis.
The country’s economy was highly affected due to the suspension of activities in several main sectors, including tourism.
The government said Morocco lost up to MAD 1 billion ($100 million) during each day under lockdown.
The Moroccan Minister of Economy, Mohamed Benchaaboun, said in May the national economy could lose six points of GDP growth this year due to lockdown.