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Tuesday, July 16, 2024

Compensation costs exceed 16 billion dirhams, an increase of 165.5 %

Today, Friday, the Public Treasury of the Kingdom of Morocco revealed the details of issuances related to compensation costs, noting that they amounted to 16.74 billion dirhams at the end of July 2022, an increase of 165.5 percent compared to the same period last year.

The Treasury stated, in its latest monthly bulletin on public finance statistics, that these issuances represent 51 percent of the total expected by the 2022 Finance Law (33.02 billion dirhams).

According to the same source, operating costs amounted to 151.1 billion dirhams, of which 86.1 billion dirhams were for salaries and wages, which recorded an increase of 3.7 percent. While equipment expenses increased by 10.9 percent to 36.5 billion dirhams, expenses related to joint costs increased by 93.5 percent to 22.6 billion dirhams.

The monthly bulletin stated that the share allocated to public budget compensation from the amounts of tax exemptions, deductions and refunds rose by 33.8 percent due to the increase in local value-added tax refunds (5,126 billion dirhams, compared to 3,781 billion dirhams).

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