Morocco: the budget deficit at more than 1.18 billion dirhams at the end of April

Morocco: the budget deficit at more than 1.18 billion dirhams at the end of April
Morocco: the budget deficit at more than 1.18 billion dirhams at the end of April

The situation of the Treasury’s expenses and resources shows a budget deficit of more than 1.18 billion dirhams (billion dirhams) at the end of April 2024, compared to a budget deficit of 10.58 billion dirhams during the same period a year earlier, according to the General Treasury of the Kingdom (TGR).

This deficit takes into account a positive balance of MAD 14.3 billion generated by the special accounts of the Treasury (CST) and the autonomously managed State services (SEGMA), indicates the TGR in its recent Monthly Bulletin of statistics of public finances (BMSFP).

According to the same Source, gross ordinary revenue stood at MAD 121.1 billion, up 15.7% compared to the end of April 2023, following the increase in direct taxes of 13.4%, customs duties, customs of 11.4%, indirect taxes of 8.3%, registration and stamp duties of 4.6% and non-tax revenue of 69.9%.

Expenditure issued under the general budget was MAD 156.8 billion during the first four months of 2024, down 0.9% year-on-year, due to the 3.8% decrease in operating and maintenance expenses. 0.3% of budgeted debt charges, combined with the 8.1% increase in capital expenditure.

The decline in budgeted debt charges is explained by the 8.9% decline in principal repayments (20.16 billion dirhams compared to 22.12 billion dirhams) and by the 16.5% increase in debt interest (13 .15 billion dirhams against 11.29 billion dirhams).

The TGR also informs that at the end of April 2024, expenditure commitments, including those not subject to prior commitment visa, amounted to MAD 279.4 billion, representing an overall commitment rate of 37% compared to 36 % at the end of April 2023 and an issue rate on commitments of 73% compared to 75% a year earlier.

As for CST revenues, they reached 60.6 billion dirhams, taking into account payments received from common investment charges from the general budget for 14.5 billion dirhams. The expenditure issued was 46.9 billion dirhams, including the share of the CST for reimbursements, tax reliefs and restitutions for 1.17 billion dirhams. The balance of all special Treasury accounts amounted to MAD 13.8 billion.

At the end of April 2024, SEGMA revenues amounted to 811 million dirhams (MDH), an increase of 17.9% compared to the end of April 2023. Expenditure was 262 MDH, an increase of 29.7%. .

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