In its monthly bulletin of public finance statistics (BMSFP) of November 2021, the General Treasury of the Kingdom (TGR) which comes under the Ministry of the Economy and Finance revealed in its publication, an increase in gross revenue of 6%, an overall expenditure commitment rate of 78%, with an increase in ordinary expenditure of 6.2% a negative ordinary balance of 3.2 billion dirhams against a negative ordinary balance of 2.7 billion dirhams a year ago.
At the end of November 2021 therefore and in comparison with the same period of 2020, the execution of the finance law, on the basis of the revenue collected and the expenditure issued, reveals the main developments.
In terms of receipts, we will note an increase in gross receipts of 6% resulting from the increase in net customs receipts of 24.1% (99 million dirhams at the end of November 2021 against 92 million dirhams a year earlier) including customs duties +26, 4%) (20 MDH at the end of Nov. 2021 against 13 MDH a year earlier), import VAT (+ 24.4%) or 6MDH at the end of Nov. 2021 against 15 MDH a year earlier and the internal tax of consumption (TIC) on energy products + 22% (refunds, rebates and tax refunds of 70 MDH at the end of Nov. 2021 against 62 MDH at the end of Nov. 2020).
This increase in gross receipts is also due to the increase in ICT on manufactured tobacco (+ 12.6%) and the increase in other ICTs (+ 32.2%) and to the increase in net domestic tax revenues of 4 , 3%, taking into account refunds, deductions and tax refunds borne by the general budget which amounted to MAD 6,856 million at the end of November 2021 against MAD 7,034 million a year earlier. To this end, the corporate tax recorded a decrease of 7.6%, taking into account refunds which were 336 MDH at the end of November 2021 against 450 MDH a year earlier, it being specified that at the end of December 2020, the requests restitution of corporate tax were 4.5 billion dirhams.
At the end of November 2021, the social solidarity contribution on profits and income, instituted by the 2021 finance law, brought in 3.8 billion dirhams charged to the special account entitled “Support fund for social protection and social cohesion ”, while at the end of November 2020, the social solidarity contribution on profits, instituted by the 2019 finance law, generated revenue of 2.1 billion dirhams charged to the general budget.
As for the IR (+ 11.3%), taking into account refunds which were 189 MDH at the end of November 2021 against 100 MDH a year earlier. RI revenue on real estate profits increased 76.1% from its end-Nov 2020 level, where RI had recorded a 4.7% decrease from its end-Nov level . 2019, or -1,817 million dirhams (36,674 million dirhams against 38,491 million dirhams. IR revenue collected by the Directorate of Personnel Expenses (DDP) under the General Treasury of the Kingdom recorded an increase of 9.2% and domestic VAT (+ 15.1%), taking into account the reimbursements borne by the general budget which amounted to 6,171 MDH at the end of November 2021 against 6,409 MDH a year earlier. stamps were 14,164 MDH at the end of November 2021 against 11,674 MDH a year earlier, an increase of 21.3% or +2,490 MDH.
The drop in non-tax revenue is 14.7% due in particular to the decrease in payments from special treasury accounts for the benefit of the general budget (9,714 MDH against 19,158 MDH) and assistance funds (672 MDH against 5,262 MDH), combined with the inflow of MAD 5.4 billion for privatization and proceeds from the sale of State holdings, the increase in monopoly revenues (MAD 9,784 million against MAD 8,486 million) and gas pipeline revenues (763 MDH against 399 MDH).
In terms of expenditure, the BMSFP records an overall expenditure commitment rate of 78% and an issuance rate on commitments of 89%, against 76% and 90% respectively a year earlier and an increase in ordinary expenditure of 6, 2% from the 5.2% increase in expenditure on goods and services, due to the 6.1% increase in personnel costs and 7.9% in other expenditure on goods and services, from the increase of 23 % of emissions from compensation and the 2.4% drop in refunds, rebates and tax refunds. In this context, the decrease in investment expenditure issued by 3.8%, fell from 60 billion dirhams at the end of November 2020 to 62.9 billion dirhams at the end of November 2021, due to the 6.3% increase in spending by ministries and a 0.7% drop in common charges spending.
Regarding treasury balances, it emerges that on the basis of revenue collected and expenditure issued, the execution of the finance law shows a negative ordinary balance of 3.2 billion dirhams against a negative ordinary balance of 2 billion dirhams. , 7 billion dirhams a year earlier and a treasury deficit of 57.6 billion dirhams, taking into account a positive balance of 8.5 billion dirhams released by the special treasury accounts (CST) and the state services managed autonomously (SEGMA), against a treasury deficit of 58.2 billion dirhams at the end of November 2020, taking into account a positive balance of 5.1 billion dirhams generated by CSTs and SEGMAs.