net debt position of 771.3 billion dirhams at the end of 2021

Morocco’s overall external position (PEG) posted a net debit position of 771.3 billion dirhams (MMDH) at the end of 2021, up by 43.4 billion dirhams compared to the end of 2020, indicates the Foreign Exchange Office.

This result is explained, mainly, by the drop in the balance of direct investments by 5.6% to -607.9 billion dirhams, as well as by the deterioration of the balance of other investments by 5.5%, mitigated by the increase in the balance reserve assets of 10.3 billion dirhams, specifies the Office in its annual report on the balance of payments and overall external position of Morocco.

Portfolio investments, meanwhile, posted a deficit balance down 2.5 billion dirhams (-2.1%) over the same period, the same source said.

The external position represents Morocco’s net wealth vis-à-vis the rest of the world. Its structure is broken down into five functional categories, namely direct investments, portfolio investments, financial derivatives, other investments and reserve assets.

Morocco’s IIP is established mainly on the basis of the annual survey on foreign investments (EAIE), the quarterly survey of private external debt, the quarterly survey of trade credits and the survey of products financial derivatives.

These declarations are supplemented by administrative data relating to monetary and financial statistics, to those of the public external debt and those of variations in flows of the financial account of the balance of payments, taking into account variations in the exchange rate, stock market prices and other adjustments.



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