The global external position of Morocco, which reflects the country’s economic net worth relative to the rest of the world, showed a net debtor position of 798.9 billion dirhams (MMDH) at the end of March 2024, compared to -788.8 MMDH at the end of December 2023, according to the Office des Changes.
This shift is mainly due to a 10.1 MMDH increase in financial liabilities, while financial assets remained stable at 573.2 MMDH, the Office des Changes stated in a press release detailing foreign exchange results as of the end of March.
The increase in financial liabilities is primarily driven by a rise in the stock of direct investments (13.2 MMDH) and portfolio investments (2.9 MMDH), which was partially offset by a decrease in the “other investments” component (-6 MMDH).
The stability of financial assets is attributed mainly to a 2.5 MMDH increase in reserve assets, which was balanced out by a 2.6 MMDH decrease in the “other investments” component.
