Nadia Fettah, Minister of Economy and Finance. Credit: The Desk
The budget deficit is expected to stabilize at 4.4% of GDP in 2024, the same level as in 2023, according to Bank Al Maghrib (BAM).
This result results from the integration of additional credits opened under the general budget of 14 billion dirhams (MMDH), including 6.5 billion devoted to covering the increase in public salaries decided within the framework of social dialogue and the increase in the forecast of tax revenues, specifies BAM in its report on monetary policy, published at the end of the second quarterly meeting of its Council for the year 2024.
In 2025, the budget deficit should decrease to 4.1% of GDP, instead of the 4% forecast in March, including the integration of the impact of the social dialogue agreement, as well as better performance. tax revenues combined with regressions in compensation charges and investment expenditure, BAM reports.
Budget execution for the first five months of 2024 shows an improvement of 10.8% in ordinary revenues driven by the increase in tax revenues.
At the same time, overall expenditure increased by 1.2%, driven by expenditure on goods and services, while compensation costs and investment expenditure fell.
