the budget deficit at 73.9 billion dirhams in 2022

The budget deficit stood at 73.9 billion dirhams (MMDH) for the year 2022, against 62.9 billion dirhams at the end of December 2021, according to the General Treasury of the Kingdom (TGR).

This deficit takes into account a positive balance of 20.7 billion dirhams released by the special accounts of the Treasury (CST) and the State services managed autonomously (SEGMA), explains the TGR in its recent monthly bulletin of statistics of public finances (BMSFP). Gross ordinary revenue amounted to 308.8 billion dirhams, up 18.2%, following the increase in direct taxes by 24.8%, customs duties (+16.7%), indirect taxes (+12.8%), registration and stamp duties (+14.5%) and non-tax revenue (+18.9%).

With regard to expenditure issued under the general budget, it increased by 18.5% to 462.2 billion dirhams at the end of December 2022, due to the 21.3% increase in operating expenditure, 16.7% investment expenditure and 12.2% of budgeted debt charges.

The increase in budgeted debt charges is explained by the 18.9% increase in principal repayments (58.8 billion dirhams against 49.4 billion dirhams) and by the 0.7% increase in debt interest ( 28.85 billion dirhams).

CST revenue reached 152 billion dirhams, taking into account the payments received from common investment charges from the general budget for 25.7 billion dirhams. Expenses issued, which take into account the share of CST in respect of reimbursements, reliefs and tax refunds for 5.1 billion dirhams, were 131.2 billion dirhams. The balance of all CST amounted to 20.9 billion dirhams.

At the end of December 2022, SEGMA revenue was 2.43 billion dirhams against 2.62 billion dirhams at the end of December 2021, down 7.1%. Expenditure on these services was 2.56 billion dirhams, up 5.5% compared to the end of December 2021.

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