“The execution of the Finance law for the year 2024 took place in a difficult context marked by the strong exposure ofMoroccan economy to an international dynamic impregnated by moderate growth, and exacerbated by the multiplication of sources of geopolitical risks and the tangible accentuation of climate crises. Despite this disruptive and uncertain international context, the government has continued its commitment to straightening out the trajectory of public finances towards greater sustainability,” the ministry specifies.
This performance is explained by the improvement in ordinary revenue of more than 49 billion DH (billion dirhams) or 15.2% compared to the year 2023, to stand at 372.6 billion dirhams for the year 2024. This dynamic in ordinary revenues, whose average annual change over the period 2020-2024 is 13%, is attributable in particular to the sustained increase of MAD 37.6 billion. or 14.3% of tax revenue compared to the year 2023, resulting in an achievement rate of 110.8% compared to the forecasts of the FL 2024. In total over the period 2020-2024, tax revenue recorded a pronounced increase of 101.4 MMDH, i.e. an average annual change of 11% over the same period.
In detail, the evolution of tax revenues compared to the year 2023 is distributed as follows:
– TVA : +12.4 MMDH (+6.3 MM.DH for import VAT and 6.1 MM.DH for internal VAT);
– Income Tax : +9.5 billion dirhams;
– Corporate tax : +8.4 billion dirhams;
– T.I.C : +3.7 billion dirhams;
– Registration rights : +1.5 billion dirhams;
– Customs duties : +1.4 billion dirhams.
-On the other hand, the implementation of the tax amnesty made it possible to achieve exceptional results which far exceeded initial forecasts.
This good performance of revenues made it possible to cover the increase in overall spending (+23.2 billion dirhams or +5.7% compared to the year 2023), resulting in particular from the measures taken by the State in 2024 to deal with inflationary pressures, including mainly:
– The increase in wages of all public service bodies, in particular, doctors, teacher-researchers, staff in the national education sector, magistrates, IGFs, legal advisors, DGSN staff, secretariat staff registry, nurses, engineers, administrators, editors, military personnel… The total estimated cost is 13.8 billion dirhams in 2024 for the benefit of nearly 1,127,000 beneficiaries;
– Support for transport professionals passengers and goods costing a total amount of MAD 1.71 billion for the year 2024;
– The subsidy granted to the National Office of Electricity and Drinking Water in the amount of MAD 4 billion to keep electricity prices unchanged;
– Implementation of measures aimed at controlling inflation food products and the fight against the effects of drought (subsidies for barley, livestock feed, seeds and fertilizers), the amount of which amounts to nearly 1 MM.DH. This in conjunction with the continuation of support for the prices of basic products, by mobilizing 25.4 billion dirhams;
– Maintaining investment momentum during the year 2024 which resulted in an increase in investment expenditure emissions of 6.6 billion dirhams or +6% compared to the year 2023, to reach 117.4 billion dirhams.
At the same time, the effort to rationalize operating expenses has made it possible to achieve savings of around 5 billion dirhams for the year 2024.
