Average Payment Delays for Public Establishments Rises to 38.4 Days in 2023

Rabat – Public institutions are on average 38.4 days late to pay their financial obligations, according to the Ministry of Economy and Finance.

According to the data released by the Directorate of Public Enterprises and Privatization (DEPP), the average delay period rose by almost two days year-on-year.

In the publication, the Ministry of Finance called on public establishments to adhere to the law on payment delays and urges them to take prompt actions to settle their debts with companies.

The ministry further added that special attention is directed towards supporting companies facing financial difficulties and encouraging timely payments to maintain a healthy business environment.

The publication of payment delay statistics is part of the minitry’s ongoing efforts to follow a progressive approach towards financial transparency and accountability.

The ministry initiated this practice with its first report on October 31, 2019, and continues to emphasize the importance of complying with payment laws and avoiding potential sanctions.

Financial transparency in Morocco

Morocco has made significant strides in boosting fiscal and financial transparency in recent years. Last month, the US State Department acknowledged Morocco’s commitment to fiscal transparency by including the country in its list of nations adhering to the minimum requirements.

In its 2023 Fiscal Transparency Report, the US State Departement placed Morocco was among the 72 that successfully met the standards of fiscal transparency out of 140 countries covered by the report.

The North African nation has been proactive in making key budget documents publicly accessible within a reasonable timeframe. The documents provide comprehensive information on expenditures, revenues, and budget allocations across various ministries.

In addition, Morocco has demonstrated transparency in awarding government contracts related to natural resource extraction, particularly in the energy and mining sectors.

By ensuring that criteria and procedures for these contracts are publicly available and codified in law, Morocco has enhanced accountability and fairness in resource allocation.