Approval of 151 SME Financial Restructuring Files: A Positive but Insufficient Step
The approval of 151 SME financial restructuring files is a positive development, but it falls short of addressing the magnitude of the economic crisis facing the country, according to Yassine Gouiaa, President of the National Organization of Entrepreneurs. This number represents a drop in the ocean of national economic difficulties, with nearly 800,000 companies, half of which require urgent restructuring due to the repercussions of successive health and economic crises.
The Gravity of the Economic Situation
The severity of the economic situation is reflected in alarming statistics, which revealed that in 2022, 40% of SMEs were on the verge of bankruptcy, facing deep structural problems, major financial difficulties, or chronic undercapitalization. The state has committed to mobilizing approximately 342 million dinars to support these institutions under this restructuring mechanism, which aims primarily to resolve the financial crises of industrial companies.
Restrictive Eligibility Criteria
The strict eligibility criteria partially explain the limited number of companies selected in this first wave. Candidate companies must have gross fixed assets ranging from 100,000 to 15 million dinars, which excludes many structures from the outset. The commerce, real estate promotion, finance, and hydrocarbons sectors are also excluded from the program. To be eligible for this assistance, companies must demonstrate that they have faced significant financial difficulties over the past three years, characterized by a substantial decline in their turnover and activity, accumulation of bank debt, consecutive losses, or a decline in equity below half of the share capital. Having been active for at least one year and maintaining accounting records in accordance with legislation are also essential prerequisites.
Lack of Transparency and Consultation
The shortcomings in the implementation and communication of this process have sparked strong criticism from the President of the National Organization of Entrepreneurs. The absence of a public call for applications and the "lack of clarity of information platforms" regarding eligibility criteria have prevented many companies from coming forward. Bureaucratic complexities and administrative slowness are major obstacles for companies in emergency situations, which require rapid intervention. The absence of precise official statistics on the exact number of companies in crisis significantly hinders the development of effective public policies adapted to the real magnitude of the problem.
Exclusion of Civil Society Organizations
Mr. Gouiaa deeply regrets the exclusion of civil society organizations, including the National Organization of Entrepreneurs, from decision-making bodies such as the meeting on December 15, which examined 11 files. These economic organizations remain closer to the daily reality of companies and better understand the concrete challenges they face in the field. Gouiaa hopes that this first batch of 151 companies will serve as a pilot project, announcing a future extension of the program.
