According to Bank Al-Maghrib (BAM), Morocco’s official reserve assets (ORA) are projected to strengthen, reaching MAD 382 billion by the end of 2024. This amount equates to approximately 5 months and 8 days of imports of goods and services.
Assuming the realization of anticipated external financing, ORA is expected to grow to MAD 382 billion by the end of 2024 and further to MAD 395.6 billion by the end of 2025. BAM detailed these projections in its monetary policy report following the second quarterly meeting of its Council in 2024.
The coverage of imports by ORA would thus stand at 5 months and 8 days in 2024 and 5 months and 13 days in 2025, BAM reported.
In terms of monetary conditions, the need for bank liquidity is expected to slightly decrease from MAD 111.4 billion at the end of 2023 to MAD 109.8 billion by the end of 2024. However, this need is projected to increase significantly to MAD 133.6 billion by the end of 2025, driven primarily by the anticipated expansion of currency in circulation.
