Morocco Reports 6.3 Billion Dirham Budget Surplus in March, Reversing Previous Deficit

The information is published by the TGR in its monthly bulletin of public finance statistics for March 2020. It is specified that this result was made possible thanks to the positive balance of 27.8 billion dirhams generated by the special Treasury accounts and the State services managed autonomously.

The increase in direct taxes by 1%, customs duties by 16.5%, indirect taxes by 6.7%, registration and stamp duties by 1.3% and non-tax revenues by 77.4%, led to an increase in gross ordinary revenues compared to last year. That is, 68.5 billion dirhams against 63.4 billion dirhams at the end of March 2019. The revenues of the SEGMA reached 584 MDH against 405 MDH at the end of March 2019, recording an increase of 44.2%. Disbursed expenditure, on the other hand, increased by 98.1% and stood at 107 MDH against 54 MDH.

An increase in operating, investment and debt expenditure has led to a 17.7% increase in disbursed expenditure under the general budget at the end of March 2020. The overall commitment disbursement rate was 72% compared to 64% a year earlier. Meanwhile, the revenues of the special Treasury accounts reached 50.6 billion dirhams, against 23.3 billion dirhams for disbursed expenditure, showing 27.3 billion dirhams for the balance of all these accounts, the bulletin states.