The situation of Treasury expenses and resources shows a budget deficit of 27.9 billion dirhams (MMDH) at the end of June 2023, against a deficit of 14.3 billion dirhams a year earlier, according to the General Treasury of the Kingdom (TGR).
This deficit takes into account a positive balance of 19.8 billion dirhams released by the special accounts of the Treasury (CST) and the State services managed independently (SEGMA), against a deficit of the Treasury of 14.3 billion dirhams at at the end of June 2022 given a positive balance of 27.2 billion dirhams generated by the CSTs and the SEGMAs, indicates the TGR in its monthly public finance statistics bulletin (BMSFP) for the month of June 2023.
The provisional situation of Treasury charges and resources at the end of June 2023 shows an increase in gross ordinary revenue of 5.3% and ordinary expenditure issued by 6%, thus generating a negative ordinary balance of 3.138 billion dirhams, continues the same source.
Given a financing requirement of 38.3 billion dirhams and a positive net flow of external financing of 26.7 billion dirhams, the Treasury resorted to domestic financing for an amount of 11.6 billion dirhams.
Thus, gross ordinary revenue stood at 155.2 billion dirhams against 147.4 billion dirhams at the end of June 2022, up 5.3%, indicates the TGR, explaining this development by the increase in direct taxes by 5%, customs duties of 3.1%, registration and stamp duties of 13.8% and non-tax revenue of 30.7%, combined with the drop in indirect taxes of 0.5%.
With regard to expenditure, at the end of June 2023, expenditure commitments, including those not subject to prior commitment visa, amounted to 382 billion dirhams, representing an overall commitment rate of 50% against 49% at end of June 2022 and an issue rate on commitments of 83%, compared to 81% a year earlier.
Expenditure issued under the general budget was 257.3 billion dirhams at the end of June 2023, up 18.1% compared to their level at the end of June 2022, due to the 5.3% increase in expenditure operating costs, 12.7% of investment expenditure and 59.6% of budgeted debt charges.
CST revenue reached 78.7 billion dirhams. These revenues take into account the payments received from common investment charges from the general budget for 15.9 billion dirhams against 16.3 billion dirhams at the end of June 2022. Expenditure issued was 59.7 billion dirhams. They include the share of CST in respect of refunds, reliefs and tax refunds for 2 billion dirhams. The balance of all the special accounts of the Treasury amounts to 19 billion dirhams.
At the end of June 2023, SEGMA revenue was 1.332 billion dirhams against 885 million dirhams at the end of June 2022, up 50.5%. Expenditure was 546 MDH at the end of June 2023 against 510 MDH a year earlier, up 7.1%.