Moroccan Budget Deficit Reaches 27.5 Billion Dirhams in First Half of 2024

The Ministry of Economy and Finance of Morocco reported that the Treasury Charges and Resources Situation (SCRT) showed a budget deficit of 27.5 billion dirhams during the first half of 2024, compared to 27.8 billion dirhams during the same period of the previous year.

The Ministry explained in its report on the SCRT for last June that this development reflects an increase in revenues (14.3 billion dirhams) greater than the increase in expenditures (13.9 billion dirhams).

Revenues, on a net basis of tax refunds, deductions, and restitutions, recorded an achievement rate of 48.9% compared to the Finance Law forecasts.

As for ordinary expenses, they reached 154.5 billion dirhams, with an execution rate of 50.3% and an increase of 6.2 billion dirhams compared to the end of June 2023. This development is attributed to an increase in goods and services expenses by 7.5 billion dirhams.

Compensation costs decreased by 1.3 billion dirhams, with an achievement rate of 86.4%, due to a decrease in the costs of butane gas and national soft wheat flour, while the cost of sugar subsidy increased.

Subsidies granted to road transport sector professionals amounted to 1.6 billion dirhams, noting that a partial decompensation of butane gas was implemented starting from May 20, 2024.

Interest on debt remained at almost the same level recorded in the first half of 2023, with an achievement rate of 49.4%.

These developments in revenues and expenditures resulted in an ordinary surplus balance of 11.4 billion dirhams.

As for investment expenditures, they increased to 46.9 billion dirhams, with an achievement rate of 46.7%.

It is worth noting that the SCRT is a statistical document that presents the results of implementing the Finance Law forecasts compared to the achievements during the same period of the previous year, in accordance with international standards for public finance statistics.

About محمد الفاسي