Morocco’s Budget Deficit Shrinks as Economic Recovery Takes Hold

This result comes in a context characterized by signs of economic recovery, thanks in particular to the successful vaccination campaign under favorable conditions and the forecasts of a very good agricultural season.

According to the explanations of the General Treasury of the Kingdom, the revenues recorded, on a net basis of tax refunds and rebates, an increase of nearly 4.6% to 193.8 billion DH and the ordinary expenditure issued grew by 5.1%, thus generating a positive ordinary balance of 1.5 billion DH.

As for tax revenues, they recorded an increase thanks to the 1.6% decrease in direct taxes and the 19.2% decrease in non-tax revenues, combined with the 31.6% increase in customs duties, the 19% increase in indirect taxes and the 20.3% increase in registration and stamp duties.

Moreover, the execution of ordinary expenditure amounting to 272.9 billion shows a decrease of 1.1%, attributable to the 18.9% decrease in budgeted debt service, combined with the 5.6% increase in operating expenses and the 1.7% increase in investment expenditure.