Morocco’s Cash Circulation Surges by 17 Billion Dirhams in 2019, Bank Al-Maghrib Reports

Banks urgently need there to be more deposits than withdrawals in order to meet the credit demands that are just beginning to recover. If in 2019 there was more cash in circulation, it is because some depositors such as financial companies or public companies have reduced their deposits for economic reasons. But it should also be noted that many individuals, professionals and companies have considerably limited their deposits or have withdrawn their assets, in order to protect themselves from forced recovery, especially since tax audits have been strengthened, reports medias24.

To reverse the trend and restore confidence, the government has introduced several amnesties in the 2020 finance law. These include the repatriation of cash from abroad, the deposit of undeclared cash in Morocco with banks, and corrective declarations.

It is therefore expected that the various actors will adhere to these measures to restart the economic machine.