a budget deficit of 27.8 billion dirhams at the end of June 2023

a budget deficit of 27.8 billion dirhams at the end of June 2023

The situation of Treasury expenses and resources (SCRT) at the end of last June shows a budget deficit of 27.8 billion dirhams (MMDH), against a deficit of 18.2 billion dirhams a year earlier, according to the Ministry of Economy and Finance.

This development covers an increase in overall expenditure (+13.8 billion dirhams) greater than that of revenue (+4.2 billion dirhams), explains the ministry which has just published the SCRT of June 2023.

At retail, revenue recorded, on a net basis of tax refunds, reliefs and restitutions, an achievement rate of 48.5% compared to the forecasts of the finance law (LF), specifies the same source. Compared to the end of June 2022, these receipts increased by 2.9%.

As for ordinary expenses, they amounted to nearly 148.3 billion dirhams, recording an execution rate of 50.9%. Compared to the end of June 2022, these expenses increased by 1.2 billion dirhams, covering an increase in expenses for “goods and services” of 4.8 billion dirhams and debt interest of 1.5 billion dirhams, as well as a drop in compensation expenses of 5.1 billion dirhams.

These changes in revenue and ordinary expenditure resulted in a positive ordinary balance of 3.3 billion dirhams, against 296 million dirhams (MDH) a year earlier.

With regard to investment expenditure, issues under this heading showed an execution rate of 48.7%. They reached 44.4 billion dirhams, recording an increase of nearly 4.9 billion dirhams compared to the first half of 2022.

In addition, the ministry informs that the special accounts of the Treasury (CST) generated a surplus balance of 13.3 billion dirhams, against 21.1 billion dirhams at the end of June 2022.

The resources of these CST take into account an amount of 6.8 billion dirhams corresponding to the product of the Social Solidarity Contribution on profits and income, allocated to the Support Fund for Social Protection and Social Cohesion, against 6.5 billion dirhams a year earlier.

The SCRT is the statistical document that presents the results of the execution of the forecasts of the LF with a comparison with the achievements of the same period of the previous year.

While the situation produced by the General Treasury of the Kingdom (TGR) is fundamentally accounting in nature, the SCRT apprehends, as recommended by international standards for public finance statistics, the economic transactions carried out during a budgetary period by describing, in terms of flows, ordinary revenue, ordinary expenditure, investment expenditure, the budget deficit, the financing requirement and the financing mobilized to cover this need.


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