The execution of the finance law (LF) at the end of March 2023 shows a positive budget balance of 6.3 billion dirhams (MMDH), according to the General Treasury of the Kingdom (TGR). This surplus results from ordinary resources (excluding borrowing revenue) of 134.8 billion dirhams and expenses (excluding debt amortizations) of 128.5 billion dirhams, specifies the TGR in its quarterly report on the execution of the LF-2023 .
Taking into account borrowing revenue of 38.8 billion dirhams and debt amortizations of 4.3 billion dirhams, the execution of the finance law generates a surplus of resources over expenses of 40.8 billion dirhams, indicates the same source. The report also shows that the State’s overall resources during the first quarter of 2023 reached 173.6 billion dirhams, i.e. an achievement rate of 32.4% of the forecasts of the finance law, noting that the reimbursement arrears of value added tax (VAT) and corporate tax (IS) refund requests were 38.9 billion dirhams and 4.6 billion dirhams respectively at the end of December 2021.
On the other hand, the total expenses of the State amounted to 132.8 billion dirhams, that is to say an achievement rate of 22.1% of the forecasts of the finance law.