Treasury: The good performance of tax revenues boosts the budget surplus

The situation of the Treasury’s expenses and resources shows a budget surplus of more than 16.8 billion dirhams (billion dirhams) at the end of March 2024, compared to a surplus of 6.2 billion dirhams during the same period a year earlier, according to the General Treasury of the Treasury. Kingdom (TGR).

This surplus takes into account a positive balance of MAD 21.8 billion generated by the special accounts of the Treasury (CST) and the autonomously managed State services (SEGMA), indicates the TGR in its recent monthly bulletin of statistics of public finances.

According to the same source, gross ordinary revenues increased by 11.7% to MAD 94.9 billion, due to the increase in direct taxes of 11.7%, customs duties of 6.9%, indirect taxes of 6.6%, registration and stamp duties of 9.1% and non-tax revenue of 35.2%.

As for ordinary expenditure issued, they stood at MAD 75.7 billion, down 4.2% compared to the end of March 2023.

The TGR also informs that the expenditure issued under the general budget was 105.6 billion dirhams at the end of March 2024, down 1.1% compared to their level at the end of March 2023, due to the decrease of 5 .6% of operating expenses, combined with the 2.8% increase in investment expenses and 20.1% in budgeted debt charges.

The increase in budgeted debt charges is explained by the increase in principal repayments of 34.3% to MAD 5.74 billion and debt interest by 11% to MAD 7.45 billion.

Regarding expenditure commitments, including those not subject to prior commitment visa, they amounted to MAD 201.2 billion for the first three months of 2024, representing an overall commitment rate of 27%, i.e. the same level at the end of March 2023 and an issuance rate on commitments of 67%.

Furthermore, the bulletin highlights that CST revenues reached 50 billion dirhams, taking into account payments received from common investment charges from the general budget for 13.8 billion dirhams. The expenditure issued was 28.6 billion dirhams, including the CST’s share of reimbursements, tax reliefs and restitutions for 996 million dirhams (MDH).

The balance of all special Treasury accounts amounted to MAD 21.4 billion.

As for SEGMA, their revenues and expenses increased respectively by 14.9% to 572 MDH and by 53.5% to 109 MDH.

LNT with MAP