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Thursday, May 30, 2024

Morocco’s Budget Deficit Reached MAD 10.6 Bln at End of February

The situation of the Treasury’s expenses and resources (SCRT) at the end of February 2023 shows a budget deficit of 10.6 billion dirhams, compared to that of the same period in 2022 (-10.4 billion dirhams), according to the Ministry of Economy and Finance.

This evolution covers an increase in expenditures of 4.5 billion dirhams and revenues of 4.2 billion dirhams, explains the Ministry in a document on the SCRT for February 2023.

Revenues recorded, on a net basis of tax refunds, rebates and restitutions, a realization rate of 13.8% compared to the forecasts of the Finance Act (LF). Compared to the end of February 2022, these receipts were up by nearly 4.2 billion dirhams or 10.7%, the same source said.

For their part, tax revenues have shown an achievement rate of 15.7%. Their growth compared to the same period of 2022 is 10.8%. Tax refunds, rebates and restitutions, including the share borne by local authorities, amounted to nearly 1.3 billion dirhams, against 1.8 billion dirhams at the end of February 2022.

Non-tax revenues, for their part, recorded an achievement rate of 4%. They amounted to nearly 2.2 billion dirhams, i.e. the same level as at the end of February 2022.

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