Morocco reached a budget deficit of MAD40.6 billion, representing a decrease of MAD3 billion, compared to MAD43.6 billion recorded a year earlier, according to the General Treasury of the Kingdom (TGR).
This deficit takes into account a positive balance of about MAD11.1 billion, produced by the special treasury accounts (CST) and the interests of the state (SEGMA), which are managed independently, the TGR indicated in its monthly bulletin on public financial statistics for August.
State interests’ revenues recorded an increase of 30.6% to MAD1,468 billion, compared to a decline in their expenditures by 4% to MAD824 million.
The TGR announced as well an overall expenditure commitment rate of 60% and an issuance rate on commitments of 85%, against 60% and 86% recorded a year earlier.
An increase of 7.1% was also recorded in ordinary expenses, including spending on goods and services, on personnel, interest charges on the debt, and emissions from compensation, whereas a drop of 5.4% was recorded in terms of tax refunds, rebates, and refunds.
The overall amount of internal and import VAT refunds, including the share supported by local authorities, decreased to MAD5,580 million against MAD6,103 million recorded at the end of August 2020.
A decrease was also noticed in investment expenditure at 0.4%, from MAD44.7 billion at the end of August 2020 to MAD44.5 billion at the end of August 2021, as well as a decrease of 13.7% in expenditure on common charges, while an increase of 13.6% was recorded in terms of ministry spendings.
According to a report on the government’s policy during the 2017-2021 period, the COVID-19 pandemic context has led to a remarkable increase in the Treasury debt level.
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