the financing requirement stands at 34 billion dirhams

Here are ten key points of the situation of Treasury expenses and resources (SCRT) at the end of August 2022, published by the Ministry of Economy and Finance:

1 – The budget deficit stands at 30.4 billion dirhams (MMDH).

2 – Revenues increased by 21% and an achievement rate of 73.5% compared to the forecasts of the finance law (LF).

3 – Tax receipts performed well overall, with an increase of 19.8%. 4 – The execution of ordinary expenditure shows an increase of nearly 22 billion dirhams (12.9%) and an execution rate of 73.5%.

5 – The increase in compensation costs is attributable in particular to the rise in the price of butane gas, which reached an average of $801.5/T. These expenses reached 28.6 billion dirhams, representing an achievement rate of 84.5% compared to the updated forecast in this respect (33.8 billion dirhams).

6 – Expenses related to debt interest increased to 23.4 billion dirhams.

7 – Issues of investment expenditure reached 47.2 billion dirhams. Their completion rate was nearly 60.5%.

8 – Special Treasury accounts (CST) generated a surplus balance of nearly 16 billion dirhams, against 9.8 billion dirhams at the end of August 2021.

9 – The financing requirement stands at 34 billion dirhams. 10 – This need was covered mainly by recourse to the domestic debt market and the mobilization of external financing for respective net flows of 14.2 billion dirhams and 7.3 billion dirhams, as well as by the increase in deposits at the Treasury for a amount of 3.5 billion dirhams.

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