The raw lifting of the Moroccan treasury reached 53.9 billion DH in the first four months of 2025, withdrawn from 13.8% compared to the same period in 2024.
This drop is mainly due to the sharp drop in long-term levee (-51.2%). However, medium -term lifting increased by 21.7% (25.7 billion DH), and short -term those quadrupled to reach 9.1 billion DH.
Treasury reimbursements also fell 19% to 32.3 billion DH, bringing net lifting to 21.6 billion DH, or 4.6% less over one year.
The outstanding treasury bills was quantified at 775.2 billion DH at the end of April, slightly down monthly (-0.6%) but an annual increase (+2.9%). It remains dominated by long maturity (67.3%), followed by medium maturity (30.7%) and short (1.9%).
The volume of submissions on the auction market decreased 9.8% to 103.9 billion DH. Long-term submissions have dropped sharply (-38.1%), those in the medium term recorded a moderate withdrawal (-9.2%), while those in the short term have increased sharply (+83.6%).
