Morocco’s Budget Deficit Soars to 41.3 Billion Dirhams in 2020 Finance Report

In its quarterly report on the execution of the Finance Act, the ministry provides details of this deficit. Thus, it comes from ordinary resources (excluding loan receipts) of 285 MMDH and charges (excluding debt repayments) of 326.3 MMDH, the same source specifies.

The same report points out that from the execution of the Finance Act, there is a surplus of charges over resources of 11.8 MMDH, taking into account loan receipts of 73.3 MMDH and debt repayments of 43.7 MMDH.

Regarding the overall resources of the State during the third quarter of 2020, they amount to 358.3 MMDH, i.e. a realization rate of 77.6% of the forecasts of the Finance Act. In addition, the VAT refund arrears and the requests for IS restitution were respectively 41.2 MMDH and 4.1 MMDH at the end of December 2019.

It should be noted that the total expenditure of the State has crossed a realization rate of 72.9% of the forecasts of the Finance Act, reaching 370 MMDH.