The outstanding domestic debt increased by 6% compared to its level at the end of December 2020, amounting to 640.5 billion dirhams (billion dirhams), indicates the General Treasury of the Kingdom (TGR).
Taking into account a financing need of 61.9 billion dirhams against a financing need of 48.2 billion dirhams at the end of August 2020 and a positive net flow of 2.5 billion dirhams from external financing against a positive net flow of 14, 6 billion dirhams a year earlier, the Treasury had recourse to domestic financing for an amount of 59.4 billion dirhams against recourse to domestic financing for 33.6 billion dirhams at the end of August 2020.
This increase is explained, among other things, by the Treasury’s recourse to the auction market for a net amount of MAD 35.2 billion, resulting from subscriptions for MAD 92.6 billion and repayments for MAD 57.3 billion against recourse to the auction market for a net amount of 44.5 billion dirhams a year earlier, resulting from subscriptions for 100.8 billion dirhams and repayments for 56.3 billion dirhams, details the bulletin of public finance statistics for the month of August that the TGR has just made public.
In more detail, the TGR indicates that this increase in recourse to domestic financing is explained by the recourse to the auction market of 35.2 billion dirhams against 44.5 billion dirhams a year earlier, the increase in treasury deposits of 15.2 billion dirhams. against a decrease of 9.8 billion dirhams at the end of August 2020 and the drain on the cash available from the Treasury at Bank Al-Maghrib for 3.1 billion dirhams against a replenishment of 1.8 billion dirhams at the end of August 2020.
The bulletin also tells us that other means of financing in particular, cash at the public accountants, checks remitted for collection during the last days of August 2021 and including the current account of the Treasury at Bank Al-Maghrib will only be credited at the beginning of September, the advances to the managers …
Regarding Treasury deposits, they were 88.8 billion dirhams at the end of August 2021 against 73.5 billion dirhams at the end of December 2020, up by 15.2 billion dirhams. As for the Treasury’s available funds with Bank Al-Maghrib, they were 3.1 billion dirhams against 6.2 billion dirhams at the start of the year, taking into account investments of 4.5 billion dirhams made in August 2021 and of which the repayment was not made. occurs only in September 2021.
Unlike domestic debt, the Treasury tells us that the situation has improved relatively externally. The same source specifies that at the end of August 2021, net external financing was positive at 2.5 billion dirhams. The principal repayments of the external debt reached 6.4 billion dirhams and the drawings were 8.9 billion dirhams, including 3.2 billion dirhams from the IBRD.