2023-09-13 09:29:36
Growth
The situation of the Treasury’s expenses and resources reveals a budget deficit of 42.3 billion dirhams at the end of August 2023 compared to 24.7 billion dirhams a year earlier.
The budget deficit reached 42.3 billion dirhams at the end of August 2023 compared to 24.7 billion dirhams a year earlier. This is revealed by the public finance indicators which detail the execution of the Finance Law on the basis of revenue collected and expenditure collected. This results in a negative ordinary balance of more than 3.487 billion dirhams compared to a negative ordinary balance of more than 2.887 billion dirhams a year earlier. On the gross revenue side, they are up 6.6% at the end of August 2023 compared to the same period in 2022. This increase in revenue, as the same source specifies, comes from the decrease in net customs revenue of 3 .1%, taking into account tax refunds, reliefs and refunds of MAD 46 million at the end of August 2023 compared to MAD 178 million a year earlier (customs duties (+4.6%), import VAT (-6%), tax domestic consumption (TIC) on energy products (+0.1%), taking into account reimbursements, tax reliefs and restitutions of MAD 26 million at the end of August 2023 compared to MAD 138 million a year previously). It is also due to the increase in ICT on manufactured tobacco (+1.8%) and the increase in other ICT (+8%).
The increase in gross revenue also comes from the increase in net domestic tax revenue of 8%, taking into account tax reimbursements, reliefs and restitutions supported by the general budget which amounted to 6,209 MDH at the end of August 2023 compared to 5,907 MDH a year ago. Thus, the IS is up by 2.7%, taking into account restitutions which were more than 1.28 billion dirhams at the end of August 2023 compared to 360 million dirhams a year earlier. In the same direction, the IR increases by 6.9%, due to restitutions which were 241 MDH at the end of August 2023 compared to 181 MDH a year earlier. At the same time, internal VAT reaches 16.4%, taking into account the reimbursements supported by the general budget which were more than 4.60 billion dirhams at the end of August 2023 compared to more than 5.29 billion dirhams a year earlier.
In the same wake, domestic VAT reimbursements (including the share borne by local authorities) were more than 6.58 billion dirhams at the end of August 2023 compared to more than 7.56 billion dirhams a year earlier. For their part, registration and stamp duties were more than 13.89 billion dirhams at the end of August 2023 compared to more than 12.35 billion dirhams a year earlier, an increase of 12.4%.
The growth in gross revenue would also be attributable to the increase in non-tax revenue (+31.4%) due, in particular, to the increase in payments from special Treasury accounts to the general budget (10.25 billion dirhams compared to 8.63 billion dirhams). MMDH), monopoly revenues (9.82 billion dirhams once morest 7.11 billion dirhams), assistance funds (1.15 billion dirhams once morest 802 million dirhams) and revenues to mitigate debt expenditure (942 million dirhams once morest 323 million dirhams).
Concerning expenses, their overall commitment rate is 61% and the issuance rate on commitments amounts to 87% compared to 59 and 85% respectively a year previously. As the same source notes, ordinary expenses are growing by 6.9%. This is due to the 9.7% increase in expenditure on goods and services, attributable to the increase of 3.1% in personnel expenditure and 24.2% in other expenditure on goods and services. The increase in ordinary expenditure is also linked to the 10.4% increase in debt interest charges, the 14.2% decline in compensation expenditure issues and the 2.8% increase. tax refunds, reliefs and refunds.
It should also be noted that the overall amount of domestic and import VAT refunds (including the share borne by local authorities) is 6,596 MDH compared to 7,592 MDH at the end of August 2022.
The same indicators show an increase in investment expenditure issued by 19.2%, going from 49.9 billion dirhams at the end of August 2022 to 59.4 billion dirhams at the end of August 2023, due to the increase of 18.9% of ministry expenditures and 19.5% of common charges expenditure.
Bulletin Expenditure emissions for compensation reached 19.09 billion dirhams (billion dirhams) at the end of August 2023, down 14.2% compared to the same period a year earlier, according to the General Treasury of the Kingdom (TGR). ). These emissions represent an achievement rate of 72% of the total provided for by the 2023 Finance Law, indicates the TGR in its monthly bulletin of public finance statistics (BMSFP) for the month of August 2023. The operating expenses issued were 182.3 billion dirhams, including 100.9 billion dirhams relating to salaries and wages which recorded an increase of 3.1%. Expenditure on materials increased by 8.3% (42.2 billion dirhams once morest 38.9 billion dirhams) and expenses for common charges recorded an increase of 15.9% (32.9 billion dirhams once morest 28.4 billion dirhams), despite the 14.2% reduction in compensation emissions (19.1 billion dirhams once morest 22.2 billion dirhams). The share of the general budget in tax reimbursements, reliefs and refunds increased by 2.8% due to the increase in IS refunds (1.28 billion dirhams compared to 360 million dirhams) and the drop in VAT reimbursements to the interior (4.6 billion dirhams once morest 5.29 billion dirhams).
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