Here are six key points from the monetary statistics of Bank Al-Maghrib (BAM), for the month of March 2022:
1 – On a monthly basis, the M3 aggregate recorded an increase of 1.6% to stand at 1,580.3 billion dirhams.
2 – Year-on-year, the money supply increased by 6.3% after 5.4% in February 2022.
3 – Official reserve assets recorded an annual growth of 9% after 8.8% and net claims on central government increased by 20.9% after 19.3% in February.
4 – Bank credit to the non-financial sector increased by 2.9% after 3.3%, with increases of 3.5% after 3.7% in loans to households and 4.7% after 3.8% loans to private non-financial corporations.
5 – The annual growth rate of non-performing loans increased from 5.4% in February to 6.1% in March, with a non-performing loans rate of 8.7%.
6 – The data available on a quarterly basis show an acceleration, from one quarter to another, of the annual growth in overall bank credit to 4.1% in March 2022 after 2.8% in December 2021.
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