Morocco’s compensation fund soared by 68.6%, reaching MAD 7.8 billion at the end of March, compared to the same period last year, said the Ministry of Economy and Finance.
In a note published about the situation of expenses and resources of the Treasury (SCRT) for March, the Ministry explained that this increase is explained by the spike in butane gas prices, which reached an average of 890 dollars/ton, up compared to nearly 543 dollars/ton at the end of March 2021.
These expenses have also recorded a rise of 45.6% at the end of March, added the same source.
Additionally, revenues increased by 19.5% year-on-year at the end of March, up compared to the forecasts of the Finance law.
In detail, tax revenues jumped by 23.3%, despite the continued effort to refund VAT loans.
Non-tax revenues totaled MAD2.5 billion, down compared to MAD3.7 billion recorded by the end of March, according to the same source.
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