Fall of the treasure treasure at the end of July

The gross treasury commitments amounted to 64.5 billion dirhams (MMDH) at the end of July 2018, 7.1% lower than in the same period a year earlier, depending on the direction of studies and financial forecasts (DEPF), under the Ministry of Economy and Finance.
This decrease was the volume collected in short maturities, falling by 41.1% to 8.5 billion dirhams, representing 13.2% of the dikes by 20.8% a year earlier, according to the DEPF in its note the conjoncture. August 2018.
On the other hand, the MAP reports, the volume of the subscribed average maturities has increased by 0.5% to 47 billion dirhams, which dominate the levies to 72.8% after 67.3% the previous year, increases the same source added that the high volume of long maturities increased by 9.3% to 9 billion dirhams, or 14% of the increases after 11.9% last year.
Taking into account the Treasury repayments that fell year-on-year by 12.4% to 43.6 billion dirhams by the end of July 2018, the Treasury's net draws amounted to 20.9 billion dirhams, underlines the DEPF. the outstanding amount of treasury paper issued by the auction at the end of July amounted to 537.6 billion dirhams, an increase of 4.1% compared to the end of December 2017.
In addition, the notes show that the structure of this outstanding balance is characterized by the strengthening of the long and medium maturities of 56.6% and 40.3%, while the share remains low in the short term, 3.1%.
In terms of number of bids, it reached 212.2 billion dirhams at the end of the first seven months of 2018, a decrease of 30.2% compared to the end of July 2017, according to the DEPF, noting that this decrease was related to the maturities volume decreased by 56.6% to 46.8 MMDH, or 22.1% of the volume of bids by 35.5% last year.
As regards the quantities of medium and long maturities offered, they decreased by 13.7% and 22.3% respectively to 131.2 MMDH and 34.2 MMDH, representing 61.8% and 16.1% of the entries after 50 % and 14.5%, the previous year.

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