the budget deficit at 14.6 billion dirhams at the end of May

The situation of Treasury expenses and resources, on the basis of revenue collected and expenditure issued, shows a budget deficit of 14.6 billion dirhams (MMDH) at the end of May 2022, against a deficit of 24.6 billion dirhams during the same period. period a year earlier, indicates the General Treasury of the Kingdom (TGR).

This deficit takes into account a positive balance of 27.3 billion dirhams generated by the special accounts of the Treasury (CST) and the State services managed autonomously (SEGMA), indicates the TGR in its Monthly Statistics Bulletin for public finances (BMSFP) of May 2022.

Thus, gross ordinary revenue amounted to 116.2 billion dirhams during the first five months of this year, up 19.8%, following the increase in direct taxes by 32%, customs duties (14. 9%), indirect taxes (12.9%), registration and stamp duties (16.7%) and non-tax revenue (5.3%), specifies the same source.

Expenditure issued under the general budget was 186.8 billion dirhams, up 19.4% compared to its level at the end of May 2021, due to the 19.6% increase in expenditure operating costs and 15.4% of investment expenditure and 22.3% of budgeted debt charges.

The increase in budgeted debt charges is explained by the 37.2% increase in principal repayments (28.7 billion dirhams against 20.9 billion dirhams) and the 4.8% decrease in debt interest ( 10.9 billion dirhams against 11.5 billion dirhams). The TGR also points out that at the end of May 2022, expenditure commitments, including those not subject to prior commitment visa, amounted to 286 billion dirhams, representing an overall commitment rate of 45%, against 43% at end of May 2021. The issue rate on commitments was 79%. Based on revenue collected and expenditure issued, the ordinary balance recorded at the end of May 2022 was negative by 9.3 billion dirhams, against a negative ordinary balance of 10.3 billion dirhams a year earlier.

With regard to CST receipts, they reached 66.1 billion dirhams. These revenues take into account payments received from common investment charges from the general budget for 14.3 billion dirhams against 12 billion dirhams at the end of May 2021. Expenditure issued from CSTs was 39.1 billion dirhams. They include the share of these accounts for tax refunds, reliefs and refunds for 1.8 billion dirhams. The balance of all CST amounts to 26.9 billion dirhams.

For SEGMA, revenue was 617 million dirhams (MDH) against 773 MDH at the end of May 2021, down 20.2%. Expenditure was 297 MDH at the end of May 2022 against 350 MDH a year earlier, down 15.1%.

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