Budget deficit of 14.4 billion dirhams at the end of June 2022

The execution of the Finance Law (LF) at the end of June 2022 shows a negative budget balance of 14.4 billion dirhams (MMDH), according to the General Treasury of the Kingdom (TGR).

This deficit results from ordinary resources (excluding borrowings) of 223.7 billion dirhams and expenses (excluding debt amortizations) of 238.1 billion dirhams, indicates the TGR in its last quarterly report on the execution of the LF- 2022.

Taking into account borrowing revenue of 35 billion dirhams and debt amortizations of 28.9 billion dirhams, the execution of the finance law generates a surplus of expenses over resources of 8.3 billion dirhams, adds the same source.

The report also shows that the State’s overall resources during the second quarter of 2022 reached 258.7 billion dirhams, i.e. an achievement rate of 56.1% of the forecasts of the LF-2022, noting that the repayment arrears of value added tax (VAT) and corporate tax (IS) refund requests were respectively 38.9 billion dirhams and 4.6 billion dirhams at the end of December 2021. In addition, the total expenses of the State reached 267 billion dirhams, i.e. an achievement rate of 49.8% of the forecasts of the LF.

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