2023-05-09 21:54:27
In a new study, Allianz Trade predicts 13,000 cases of business failures in Morocco in 2023, a record level, up 5% compared to 2022. Taken from everywhere in the national press, this figure hides a completely different reading.
At a time when the CGEM is preparing for the renewal of its governing bodies, where the Alj-Tazi binomial has decided to place its next mandate on “the release of energies”, the business sphere is in danger of going through a difficult period. This is at least what the figures of the new Allianz Trade study set as a backdrop. In the latest version of its Global Business Insolvency Index for the period 2020-2024, the subsidiary of the German insurance giant suggests that 13,000 Moroccan companies should go out of business in 2023. If this scenario materializes, this number would be up by 5% compared to 2022 (12,937 failures) and above all would set a new absolute record for business failures in the Kingdom.
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However, although alarmist and above all announcing a different story of the dynamism of the release of energies, the CEO of Allianz Trade Maroc gave us another reading of this figure of fear. “It is true that the number of business failures in the Kingdom should increase by 5% in 2023, compared to 2022, then stagnate (+0%) in 2024, which should constitute a historic record and a completely unprecedented situation. On the other hand, a more detailed analysis of the global study by Allianz Trade reveals that Moroccan companies are rather well, even very well, off, because business failures are set to increase according to our estimates, from 21% and 4% (respectively in 2023 and 2024) worldwide, with peak increases of 49% in 2023 then 15% in 2024 in the United States, or even +23% in 2023 in the eurozone .
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And to continue: “Let’s say, ultimately, that times are hard here, but certainly less so than elsewhere. However, compared to a decade earlier, the Moroccan isoperimeter is effectively set at high standards in terms of business failures. It is with this new normal, which we seem to manage better than many economies much larger than ours, which we must now compose, while mourning the market conditions of 15 or 20 years ago. This awareness is, in my opinion, essential in order to support the current dynamic”.
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