Moroccan Local Authorities Report 3.7 Billion Dirham Budget Surplus Amid Revenue Declines

This surplus, according to the TGR, takes into account "investment expenditure of more than 4.6 MMDH and positive balances of 582 MDH and 6 MDH generated by the special accounts and the annex budgets". As for the ordinary revenues of the local authorities, they amounted to 18.9 MMDH, thus leading to a 5.1% decrease in transferred revenues, a 19.4% decrease in revenues managed by the State and a 21.1% decrease in revenues managed by the local authorities.

The bulletin also mentions an increase in the ordinary expenditure of these local authorities, estimated at 11.1 MMDH due to "the 5.2% increase in personnel expenditure and the 18.4% increase in debt interest charges, combined with the 1.9% decrease in expenditure on other goods and services".

The total expenditure made by the local authorities has increased by 4.5% compared to its level at the end of June 2019. It is composed of 65.9% of current expenditure. Still according to the TGR bulletin, it is indicated that the surplus generated by the budgets of the local authorities and the borrowing revenues have allowed "the repayment of the principal of the debt which is 1,135 MDH and the reconstitution of the available funds for 3.9 MMDH", specifies the same source.