Tuesday, 5 July 2016

Morocco Indebtedness Rises to USD32 Billion


indebtedness
Casablanca-Morocco Foreign indebtedness rose 5.6% during the first quarter of 2016, according to the Ministry of Finance. Total indebtedness reached USD32 billion end of March compared to USD 30.4 billion end of 2015.
Since 2011, the foreign indebtedness rose 45.5% and now represents 32.3% of the GDP, according to the ministry statistics. They also revealed some remarkable changes in the indebtedness structure during the same period.
Sources also showed that bilateral contract deals between Morocco and other government dropped from 38.7% to 28.2% between 2011 and March 31, as a result of the sharp decrease of the European stake in the Moroccan foreign indebtedness.
On the contrary, the major stake of the indebtedness is attributed to commercial banks and international financial markets. This sector’s stake of the indebtedness went up from 9.6% to 26%. However, the governmental companies and establishments’ stake of foreign indebtedness increased from 46.5% to 52.2% between 2011 and 31 March 2016 while that of the public treasury decreased from 52.7% to 47.5%.
Currencies wise, this period witnessed an increase in the dollar indebtedness whereas that of other currencies dropped, namely the European currency

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