More than 11.7 billion dirhams mobilized in 2021

The total envelope mobilized within the framework of external financing operations (loans and grants combined) reached 11.7 billion dirhams (MMDH) in 2021, a substantial drop of more than 50% compared to 2020, according to the Directorate of Budget, under the Ministry of Economy and Finance.

This change is “due to the recovery in tax revenue and the efforts made to improve macroeconomic balances, compared to the 2020 financial year, where the use of debt to quickly mobilize the resources necessary to combat the effects negative effects of the pandemic, was not an option”, explained Management in its activity report for 2021.

And to note that 25% of the envelope mobilized was allocated for the benefit of social protection.

Furthermore, the report shows that 98% of the envelope mobilized was in the form of loans (67% for results-based programs and 33% for reform programs), while 2% was in the form of donations.

The Budget Department contributes, along with the Treasury and External Finance Department (DTFE), to determining the strategy and standards relating to external financing. It defines the terms and conditions for financing projects or programs included in the budgets of the State, local authorities and public bodies, the list of which is fixed by order of the Minister of Economy and Finance. It also seeks, negotiates and mobilizes the external assistance necessary for the realization of said projects or programs and monitors their use.

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