The new business trip policy is not just happy. Restrictions linked to payments in person and online reservations raise concerns about equal opportunities for all businesses.
The restrictions on the new business travel policy policy raise concerns. At the beginning of 2024, the Exchange Office increased the business travel allocation offered to Moroccan companies, a measure welcomed by several economic operators who argue that “this decision constitutes a real boost for the economic sector”. Going from 60,000 dirhams to 100,000 dirhams, this improved endowment aims to cover expenses related to business trips, including meal, transport and accommodation reservations if they are paid directly to the establishments concerned.
The new business trip policy is not just happy. Restrictions linked to payments in person and online reservations raise concerns about equal opportunities for all businesses.
The restrictions on the new business travel policy policy raise concerns. At the beginning of 2024, the Exchange Office increased the business travel allocation offered to Moroccan companies, a measure welcomed by several economic operators who argue that “this decision constitutes a real boost for the economic sector”. Going from 60,000 dirhams to 100,000 dirhams, this improved endowment aims to cover expenses related to business trips, including meal, transport and accommodation reservations if they are paid directly to the establishments concerned.
In addition, El Azzabi stresses that this increased allowance “is only applicable to companies with a dirhams account”. Let us understand that for companies whose income is mainly in dollars or euros, with a currency account, this allowance does not apply. This means that their allowance is limited to the funds available on their account, without a specific ceiling in dirhams. Although this may not be a problem for certain companies, this raises the question of equity and consistency of the Dirhams endowment policy for the entire commercial sector.
What about changing market realities
True that the efforts of the exchange office to regularly increase this allowance over the years is to be greeted. This testifies to Morocco’s desire to support businesses and promote a favorable economic environment. However, it is also important to take into account changing market realities and the needs of modern companies, which are increasingly focused on online transactions and international operations.
In terms of economic implications, this increase in minimum endowment in dirhams for companies could stimulate national commercial activities by offering companies a solid financial basis for their operations. This could also encourage companies to maintain accounts in dirhams, thus strengthening the stability of the national financial system.
Questions about the equity of this policy
However, restrictions linked to payments in person and in foreign currency accounts raise questions about the fairness of this policy. According to an analyst, “it would be essential for the exchange office to continue to assess and adapt its endowment policies in dirhams in order to meet the needs of modern companies, while guaranteeing a balanced approach that supports both national companies and international operating in Morocco ”. It is also necessary to closely monitor the impact of these restrictions on the competitiveness and efficiency of Moroccan companies, in particular in a global context where digital transactions play an increasingly important role.