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Thursday, May 30, 2024

Morocco’s Budget Deficit Reaches MAD 24.6 Bln at the End of May

The situation of Treasury charges and resources (SCRT), at the end of May 2023, shows a budget deficit of 24.6 billion dirhams, compared with almost MAD 13.9 billion a year earlier, according to the Ministry of Economy and Finance.

This trend reflects a greater increase in overall expenditure (+15.6 billion dirhams) than in revenue (+4.9 billion dirhams), explains the Ministry in a document on the SCRT for May 2023.

According to the same source, on a basis net of tax refunds, rebates and restitutions, revenues were 39.4% higher than forecast in the Finance Act. Compared with the end of May 2022, these revenues were up by nearly 4.9 billion dirhams or 4.1%.

Tax receipts showed a realization rate of 42.8%. Compared with the end of May 2022, they rose by almost 5 billion dirhams or 4.8%. Tax refunds, rebates and restitutions, including the portion borne by local authorities, amounted to nearly 6.6 billion dirhams versus MAD 7.4 billion.

 

 

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