Morocco Reports 21.8 Billion Dirham Budget Deficit in First Half of 2019
The Ministry of Economy and Finance has published its semi-annual report on the execution of the Finance Act and notes a budget deficit of 21.8 billion dirhams. This situation would result from ordinary resources excluding loan receipts of 173.2 billion dirhams and charges excluding debt amortization of 195 billion dirhams.
According to the Ministry’s data, the report also shows that the State’s total resources during the first half of 2019 reached 236.4 billion dirhams, i.e. a realization rate of 56.6% of the forecasts of the Finance Act.
The arrears of reimbursement of value added tax (VAT) and the requests for restitution of corporate tax were respectively 38.7 billion dirhams and 3.9 billion dirhams, as of the end of December 2018.
As for the total charges, they exceeded 223 billion dirhams, i.e. a realization rate of 50.3% of the forecasts of the 2019 Finance Act.
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