The gross financing requirement of the Treasury by the end of 2021 is expected to stand at DH 61.4 billion, according to estimates by Attijari Global Research (AGR).
This requirement includes the balance of financing of the budget deficit as well as the arrears of the Treasury estimated by the Finance Law (LF) 2021 at 27.7 billion MDH, and the fall of the Treasury over the rest of the year 2021 of 33.7 billion. billion DH, including 33.3 billion DH internal and 0.4 billion DH external, specifies AGR in its monthly note “Budget focus – Fixed income” of August. According to the forecasts of the LF 2021, the State treasurer would cover 31.8 billion DH or 52% of this need on the foreign market.
The balance equivalent to DH 29.6 billion would be satisfied on the domestic market, indicates the AGR. The analyst adds that given the use of the local market, the average gross domestic financing requirement is rising slightly but remains at moderate levels. This amounted to 7.4 billion DH at the end of August 2021.