2023-06-13 10:00:40
Gross ordinary revenue consolidated by 9.8 billion dirhams to reach 126.1 billion dirhams at the end of May 2023.
Statistics : The budget deficit recorded in the fifth month of the year takes into account a positive balance of 22.7 billion dirhams generated by the special accounts of the Treasury (CST) and the State services managed independently.
Sharp widening of the budget deficit for the first five months of the year. It stands at 20.3 billion dirhams at the end of May 2023 against 14.5 billion dirhams. This can be seen from the latest public finance statistics drawn up by the General Treasury of the Kingdom (TGR). The difference noted in the fifth month of the year takes into account a positive balance of 22.7 billion dirhams generated by the special accounts of the Treasury (CST) and the State services managed independently.
Overall, the provisional situation of Treasury expenses and resources shows at the end of May an increase of 8.5% in gross ordinary receipts. They indeed consolidated by 9.8 billion dirhams to reach 126.1 billion dirhams at the end of May against 116.2 billion dirhams generated in the same period of the previous year. Referring to the TGR, this increase is explained by the increase of 5% in direct taxes, 10.4% in customs duties, 2.5% in indirect taxes, 12.9% in registration and stamp and 55.7% of non-tax revenue. “With revenue of 32.2 billion dirhams, VAT is the primary source of revenue for the general state budget,” explains the TGR in its publication.
VAT in fact represents 26.5% of the net revenue structure of the general state budget. Corporate tax comes in second place with a share of 19.9%, or revenue of around 24.21 billion dirhams. Income tax captures a share of 19.2, around 23.38 billion dirhams.
Regarding registration fees, they amount to 9.54 billion dirhams covering 5.2% of the overall revenue structure. It should be noted that the rate of coverage of ordinary expenditure by ordinary revenue was 96% against 92.5% a year earlier. “At the end of May 2023, 50.4% of these revenues were devoted to personnel expenses, 32.7% to equipment expenses, 10.3% to debt interest charges and 3.6% to reimbursements, reductions and tax refunds”, can we raise the TGR.
In terms of expenditure, the TGR ensures that commitments, including those not subject to prior commitment visa, amounted to 330.9 billion dirhams, ie an overall rate of 45%.
It is identical to the level reached at the end of May 2022. The issue rate also remained unchanged at around 79%. It should be noted that expenditure issued under the general state budget firmed up by 12.4% to reach 210 billion dirhams at the end of May 2023. This increase occurs, according to the TGR, due to the increase of 3.2% in operating expenses, 15.9% in investment expenses and 35.9% in budgeted debt charges. With regard to special Treasury accounts, the revenue generated reached 71.5 billion dirhams at the end of May. They take into account the payments received from the common investment charges of the general budget for 15.5 billion dirhams against 14.3 billion at the end of May 2022. Expenditure issued was 49.6 billion dirhams including shares of special accounts from the Treasury in respect of tax refunds, relief and refunds for 1.5 billion dirhams. “The balance of all the special accounts of the Treasury amounts to 21.9 billion dirhams”, we learn from the TGR. With regard to state services, revenue at the end of May amounted to 1.1 billion dirhams while they were around 617 million dirhams, an increase of 78.6%.
Expenses issued in this direction reached 356 million dirhams for the first five months of the year against 312 million dirhams a year earlier, which represents an increase of 14.1%.
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