Morocco Slashes Budget Deficit by 47% as Tax Revenues Surge
At the end of last October, Morocco’s budget deficit eased, standing at 25.1 billion DH against 47 billion DH a year earlier, according to the statement of Treasury charges and expenditures.
According to the explanations of the General Treasury of the Kingdom (TGR), ordinary revenues reached 243 billion DH, up 15.1% compared to a year earlier.
As for non-tax revenues, they recorded a decrease of 12%. Revenues from monopolies and participations stood at 25.8 billion DH at the end of October, compared to 29.3 billion DH at the end of October 2021.
In addition, the execution of ordinary expenditures amounting to 243.7 billion shows an increase of 14.2%, attributable to the explosion of compensation expenditures, up 157% year-on-year for a total of 28.3 billion DH.
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