The Ministry of Finance increased 11 billion dirhams (MMDH) on the contract market one week before the closure of March 2025, a production rate of 107% compared to an estimated need for 10.3 mmdh according to Attijari Global Research (AGR).
This lifting takes place in the perspective of the first deposit of the corporate tax planned for April. This week, the treasure increased 1 MMDH in view of a demand from investors of 4.1 MMDH, a satisfaction rate of 25%.
In connection with Bank al-Maghrib’s last decision, the primary rates have recorded a clear decline in order to reduce the hit interest. The maturity after 13 weeks, 26 weeks and 2 years fell around 12, 26 and 26 basis points (PBS).
A similar downward trend was observed on the secondary market, whereby the variations from –6 to -26 PBS were in one week.
AGR provides for a continuation of the hit rate in 2025 to a balance of 2%, which could lead to a decline in the level of profitability from short -term investors.
M.Ba.
