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Thousands of companies threatened with bankruptcy in Morocco

Protesters wave national flags during a demonstration gathering workers, teachers and civil servants against the deterioration in the social and economic conditions of the working class on April 6, 2014 in the Morrocan city of Casablanca. [Photo by FADEL SENNA/AFP/Getty Images]
Protesters wave national flags during a demonstration gathering workers, teachers and civil servants against the deterioration in the social and economic conditions of the working class on April 6, 2014 in the Morrocan city of Casablanca [Photo by FADEL SENNA/AFP/Getty Images]

Despite efforts made to postpone payment deadlines, the late payment of dues threatens thousands of Moroccan companies with bankruptcy, Al-Araby Al-Jadeed reported on Friday.

The reason behind the late payment of dues, which could lead to the liquidation of companies, is the difficulties relating to financing.

Credit insurance company, Euler Hermes, lowered the risk level of the country from low to medium, due to developments relating to the bankruptcy of Moroccan companies.

A survey showed that the size of the companies is an important factor in their possible bankruptcy, noting that 80 per cent of the large companies achieved investments in the last three years, 49.5 per cent of the small and medium companies, and 29.4 per cent of the very small companies.

READ: Meanwhile, it stated that the number of companies threatened with bankruptcy this year is 9,000.

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