Treasury: financing requirement forecast at MAD 36.9 billion by the end of 2023 – Media7

The Treasury’s gross financing requirement should stand at 36.9 billion dirhams (billion dirhams) by the end of 2023, according to estimates from Attijari Global Research (AGR).

This need is calculated by the remaining financing of the budget deficit as well as the Treasury arrears, estimated by the 2023 finance law at MAD 28.4 billion, reports AGR in its “Budget Focus” covering the month of October.

It also takes into account the cumulative balance of Treasury payments remaining at the end of 2023 of 8.6 billion dirhams, including 9.5 billion dirhams on the domestic market and a surplus of 91 million dirhams (MDH) on the external market, specifies the same source. .

According to the 2023 finance law, the Treasury should cover MAD 20.7 billion of its gross financing needs on the external market. The remaining 16.2 billion dirhams would be satisfied on the domestic market, i.e. a share of 44%.

Consequently, the gross domestic financing requirement per month fell significantly to 8.1 billion dirhams, compared to 11 billion dirhams a month earlier.

A comfortable level for the Treasury which should control its Supply of Treasury Bills (BdT) on the domestic market during the rest of 2023, underlines AGR.