Kiosk360. According to data from Bank Al-Maghrib, the circulation of cash is still on the rise in April, reaching 7.1 billion dirhams in value, or 2.2% compared to March. This article is a press review of L’Economiste.
Cash in circulation continues its upward trend in April 2022, reports The Economist in its publication of this Wednesday, June 1st. The newspaper indicates that it increases by 2.2% compared to March, or 7.1 billion dirhams in value.
At the same time, bank deposits fell by 10.2 billion dirhams from one month to the next, according to data from Bank Al-Maghrib. It should be noted that cash in circulation stood at 331.5 billion dirhams at the end of April 2022, increasing over a sliding year by 28 billion dirhams, or 9.2%.
The Economist emphasizes that this dynamic has its origins in a phenomenon of hoarding, which accelerated with the health crisis where a real rush towards cash was observed. The Economist notes that the trend has continued since then, accentuated by the uncertainties linked to the national and international economic situation.
Similarly, bank deposits fell by 1% compared to March 2022, reaching 1,060 billion dirhams, down 10.2 billion dirhams in value from one month to the next. We note a progression over a sliding year of 5.4%.
BAM indicates that demand deposits with banks fell by 1.1% compared to March 2022 to 692 billion dirhams. “They are up 7.9% compared to the same period at the same period last year. As for term deposits, they fell by 2.1% to 130.2 billion dirhams compared to the previous month. Compared to the same period last year, they show a drop of 5.6%”, explains the newspaper.
Regarding bank credit to the non-financial sector, the latter increased, year-on-year, by 3.2% in April 2022 against 2.8% a month earlier. The Economist underlines that the real estate loan shows a slight increase of 0.2% in April compared to March 2022 to 293 billion dirhams. Similarly, outstanding mortgages increased by 2.3% compared to the same period last year.
It should be noted that accounts receivable and cash loans recorded an increase of 4.2% from one month to another, with an outstanding amount which reached 236.4 billion dirhams in March, i.e. an increase of 10.5%. compared to the end of April 2021.
As for equipment credit, it stood at 175.5 billion dirhams, up slightly by 0.3% compared to last month, falling by 2.9% compared to the same period of the previous financial year. . The Economist, finally notes that consumer credit improved slightly by 0.3% to 56.3 billion dirhams, an increase of 2.3% over a sliding year.