Morocco’s internal debt reached MAD542.3 (USD57 billion) end of August, an increase of 4.4 percent on annual bases, according to statistics published by the Moroccan Public Treasury on Tuesday.
The Public Treasury noted that this increase ensues from the government borrowing MAD75.3 billion (USD7.93 billion) through new issuances during the past nine months. The Treasury added that it paid off debts worth MAD52.7 billion (USD5.545 billion) during the same period.
The internal debt is composed of 84.1 percent of debts whose payment term exceeds five years, added the treasury – 15.9 percent of debts extend for a two-year period. The Treasury added that the government continues to conduct operations to deal with the internal debt through transferring short-term debts to long-term debts.
Under this framework, the government paid off MAD11 billion (USD1.16 billion) of short and medium-term debts and replaced them with around MAD11.4 billion (USD1.2 billion) of long-term debts.
Regarding implementing the government budget of the current year, the Treasury pointed out that transferring the resources coming from the Gulf donations to the budget of around MAD24 billion (USD2.53 billion), enabled the increase of resources of the government budget.
The Treasury pointed out that the resources witnessed an increase of 16.5 percent compared to the past year, reaching MAD174 billion (USD18.32 billion).
In this context, the budget achieved a positive credit of MAD30.2 billion (USD3.18 billion), which contributed to funding government investments that reached MAD38.1 billion (USD4 billion) during this period.
The government relied on borrowing to proceed with the funding of investments worth MAD7.93 billion (USD83 million).
