The budget deficit at 14.4 billion dirhams at the end of June, better than the previous year (TGR)

On the basis of the revenue collected and the expenditure issued, the situation of Treasury expenses and resources, shows a budget deficit of 14.4 billion dirhams (MMDH) at the end of June 2022, announced the General Treasury of the Kingdom (TGR).

At the same period last year, the deficit was calculated at 27.3 billion dirhams. This year, this deficit takes into account a positive balance of 27.1 billion dirhams released by the special accounts of the Treasury (CST) and the State services managed autonomously (SEGMA), indicated the TGR in its Monthly Bulletin of government finance statistics (BMSFP) of June 2022.

Thus, gross ordinary revenue amounted to 147.4 billion dirhams during the first six months of this year, up 18.7%, following the increase in direct taxes by 30.1%, customs duties ( +22.2%), indirect taxes (+15.2%) and registration and stamp duties (+15.8%), combined with the drop in non-tax revenue of 11.1%, specifies the same source.

Expenditure issued under the general budget was 217.8 billion dirhams, up 16.8% compared to its level at the end of June 2021, due to the 16.1% increase in expenditure operating costs, 23.7% of investment expenditure and 13.4% of budgeted debt charges.

The increase in budgeted debt charges is explained by the 26.8% increase in principal repayments (28.9 billion dirhams against 22.8 billion dirhams) and the 3.6% decrease in debt interest ( 17.2 billion dirhams against 17.8 billion dirhams).

Until the end of June 2022, expenditure commitments, including those not subject to prior commitment visa, amounted to 328.2 billion dirhams, representing an overall commitment rate of 49% against 50% at the end of June 2021 and the issue rate on commitments was 81%, indicates the TGR.

Based on revenue collected and expenditure issued, the ordinary balance recorded at the end of June 2022 was negative by 1.9 billion dirhams against a negative ordinary balance of 7.4 billion dirhams a year earlier.

With regard to CST revenues, they reached 75.4 billion dirhams, taking into account the payments received from the common investment expenses of the general budget for 16.3 billion dirhams.

Expenses issued from CSTs were 48.7 billion dirhams, including the share of these accounts for tax refunds, reliefs and refunds for 2.2 billion dirhams. The balance of all CST amounts to 26.7 billion dirhams.

For SEGMA, service receipts fell by 4.1% to 885 million dirhams (MDH). Expenditure was 493 MDH, up 2.5% compared to the end of June 2021.

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