HIBAPRESS
The High Commission for Planning announced on Monday that national savings reached 461.7 billion dirhams during 2024, recording an increase of 11.6 percent compared to 2023.
The Commission explained, in an informational note on the national accounts of institutional sectors, that financial and non-financial companies contributed to this savings by 60.3 percent, households and non-profit institutions serving households by 26.8 percent, and public administrations by 12.9 percent. It also pointed out that the total formation of fixed capital reached 422.5 billion dirhams in 2024, up 13.9 percent compared to 2023, thanks to a noticeable increase in corporate investments by 19.9 percent, and an increase of 7.9 percent in the total formation of fixed capital for households and non-profit institutions serving households, as well as an increase in the total formation of fixed capital for public administrations by 3.2 percent. Financial and non-financial companies contributed 59.2 percent to the total formation of national fixed capital in 2024. Households and non-profit institutions serving households contributed 26.1 percent, and public administrations contributed 14.7 percent. In total, the need to finance the national economy reached 18.5 billion dirhams in 2024, accounting for 1.2 percent of the gross domestic product instead of 0.9 percent the previous year. This decline is due to the transition of the non-financial companies' balance from a financing capacity of 11.9 billion dirhams to a financing need of approximately 8.2 billion dirhams. For its part, financial companies experienced an increase in their financing needs, reaching 9.1 billion dirhams in 2024, while the financing needs of public administrations decreased by 12.2 billion dirhams, and the financing capacity of households (including non-profit institutions serving households) improved by 10.9 billion dirhams. The Commission explained that in order to cover its financing needs, the state sector always resorts to internal and external debt, pointing out that general treasury issuances in the domestic market saw a significant increase, recording a net inflow of 48.8 billion dirhams in 2024. The external debt of this sector also recorded a net inflow of 19 billion dirhams in 2024. At this level, the net flow of internationally issued tradable debt bonds reached (minus 9.4) billion dirhams in 2024. Regarding non-financial companies, they recorded a significant decrease in bank loans, as the net flow of loans provided to non-financial companies recorded 12.9 billion dirhams in 2024, constituting 15.1 percent of their obligations. Household debt (including self-employed entrepreneurs) to banks recorded a slight increase, as the net flow of loans reached 13 billion dirhams in 2024, while deposits saw a large increase, recording a net flow of 86.8 billion dirhams. On the other hand, financial companies recorded a significant decline in loans, settling at 41.9 billion dirhams, compared to a noticeable improvement in deposits of 152.3 billion dirhams.
