a budget surplus of 1.6 billion dirhams at the end of March

a budget surplus of 1.6 billion dirhams at the end of March

The situation of Treasury expenses and resources (SCRT) at the end of March 2023 shows a budget surplus of 1.6 billion dirhams (MMDH), against 1.1 billion dirhams, a year earlier, according to the Ministry of the Economy and Finance.

This development covers an increase in revenue (+4.6 billion dirhams), greater than that of overall expenditure (+4.2 billion dirhams), explains the ministry in a document on the SCRT of March 2023.

Revenue recorded, on a net basis of tax refunds, reliefs and restitutions, an achievement rate of 25% compared to the forecasts of the finance law (LF). Compared to the end of March 2022, these receipts increased by nearly 4.6 billion dirhams or 6.3%, specifies the same source.

For their part, tax revenue posted an achievement rate of 28.8%. Their increase compared to the same period of 2022 amounts to 4.8%, or 3.3 billion dirhams. Tax refunds, relief and refunds, including the share borne by local authorities, amounted to nearly 4.4 billion dirhams, compared to 5.5 billion dirhams at the end of March 2022.

Non-tax revenues, for their part, recorded an achievement rate of 6%. They stood at nearly 3.25 billion dirhams, against 2.5 billion dirhams in March 2022.

The SCRT also indicates that ordinary expenses amounted to 75.5 billion dirhams, recording an execution rate of 26%. Compared to the end of March 2022, these expenses increased by nearly 5.6 billion dirhams, mainly due to the increase in expenses for goods and services (+3.5 billion dirhams), debt interest (+ 735 million dirhams (MDH)) and compensation costs (+1.3 MDH).

Compensation expenses recorded an achievement rate of nearly 34.2%. They amounted to nearly 9.1 billion dirhams, including 5 billion dirhams of butane gas and 800 million dirhams for subsidies granted to professionals in the transport sector.

Execution of expenditure on goods and services is marked by an achievement rate of 24.5% for personnel expenditure and nearly 27.4% for expenditure relating to “other goods and services”. The increase in these expenses amounts to 1.5 billion dirhams and 2 billion dirhams, respectively, observes the ministry.

Debt interest, for its part, experienced a realization rate of 22%. Their increase compared to the end of March, ie +735 MDH, results from an increase in interest on both the external debt (+534 MDH) and the internal debt (+201 MDH).

The charge for butane gas showed virtual stagnation compared to the end of March 2022, due to an increase in releases for consumption, while the price of butane gas fell to $666/T against 890 $/T on average a year ago.

These changes in ordinary revenue and expenditure resulted in a positive ordinary balance of 2.6 billion dirhams, down 966 million dirhams compared to the end of March 2022, the ministry said.

With regard to investment expenditure, issues under this heading showed an execution rate of 25.5%. They reached nearly 23.3 billion dirhams, recording an increase of 1.5 billion dirhams compared to the end of March 2022.

For their part, the special accounts of the Treasury generated a surplus balance of 22.3 billion dirhams, against 19.3 billion dirhams at the end of March 2022.

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 is fundamentally accounting in nature, the SCRT apprehends, as recommended by international standards in terms of 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 requirement.


Please enter your comment!
Please enter your name here