the budget deficit at 25.1 billion dirhams at the end of October 2022

The situation of Treasury expenses and resources shows a budget deficit of 25.1 billion dirhams (MMDH) at the end of October 2022, against a budget deficit of 47.1 billion dirhams a year earlier, according to the General Treasury of the Kingdom (TGR).

This deficit takes into account a positive balance of 35.2 billion dirhams released by the special accounts of the Treasury (CST) and the State services managed autonomously (SEGMA), indicates the TGR in its monthly financial statistics bulletin. (BMSFP) for the month of October 2022.

Thus, gross ordinary revenue stood at 243.1 billion dirhams against 211.2 billion dirhams at the end of October 2021, up 15.1%, said the TGR, explaining this development by the increase in direct taxes of 25, 2%, customs duties of 21.7%, indirect taxes of 14.6% and registration and stamp duties of 17.1%, as well as the drop in non-tax revenue of 12%.

For their part, expenditure issued under the general budget was 347.2 billion dirhams at the end of October 2022, an increase of 11% compared to their level at the end of October 2021, due to the 16.2% increase in operating expenses, 12% of investment expenses and a 3% drop in budgeted debt charges.

This 3% decrease in budgeted debt charges is explained by the 4.6% drop in principal repayments (43.7 billion dirhams against 45.9 billion dirhams) and 0.3% drop in debt interest (26 .7 billion dirhams against 26.8 billion dirhams), specifies the same source.

At the end of October 2022, expenditure commitments, including those not subject to prior commitment visa, amounted to 496.2 billion dirhams, representing an overall commitment rate of 70% against 72% at the end of October 2021 and a issue rate on commitments of 88%, the same level a year earlier.

CST revenues reached 122.6 billion dirhams, notes the bulletin, noting that these revenues take into account payments received from common investment charges from the general budget for 21.2 billion dirhams against 18.2 billion dirhams at the end of October 2021.

Expenses issued were 87.8 billion dirhams, including the share of CST in respect of refunds, reliefs and tax refunds for 3.6 billion dirhams. The balance of all CST amounts to 34.8 billion dirhams.

With regard to revenue from state services managed independently, they were 1.79 billion dirhams against 1.72 billion dirhams at the end of October 2021, up 4%. Expenditure was 1.37 billion dirhams at the end of October 2022 against 1.14 billion dirhams a year earlier, up 19.7%.

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