The budget deficit widens by more than 15 billion DH in one year

The budget deficit reached at the end of August 2020 some 46.5 billion dirhams (billion dirhams), against 30.7 billion dirhams at the same date last year, according to the situation of expenses and resources of the Treasury (SCRT), published by the Ministry of the Economy, Finance and Administrative Reform.

Compared to the month of July, this deficit is up by 4.6 billion dirhams, of which 3.9 billion dirhams correspond to the investment expenditure of the month, notes the ministry.

If we exclude the surplus recorded by the Special Fund for the management of the Covid-19 pandemic, the deficit amounts to nearly 55.5 billion dirhams, an increase of nearly 24.8 billion dirhams compared to the same period of the year 2019, underlines the ministry, noting that the evolution of ordinary income and expenditure resulted in a negative ordinary balance of nearly 16 billion dirhams, against 12.9 billion dirhams at the end of July, reflecting an acceleration of the pace of execution of ordinary expenditure in relation to that of income.

Compared to the forecasts of the amending finance law (LFR) 2020, the rate of realization of ordinary revenue, on a net basis of refunds, tax rebates and refunds, was 64.3%, the same level as a year earlier, adds the same source, indicating that compared to the same period of the year 2019, these revenues recorded a decrease of 13.8 billion dirhams, including 11.5 billion dirhams for tax revenue and 2.3 billion dirhams under non-tax revenue.

The ministry further notes that ordinary expenditure recorded, at the end of August 2020, an execution rate of 67% compared to the forecasts of the amending finance law and increased by nearly MAD 8.7 billion ( + 5.8%) compared to the same period in 2019.

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Regarding investment expenditure, issues reached 39.9 billion dirhams, i.e. an achievement rate of 56.4% compared to the forecasts of the LFR and a decrease of nearly 2 billion dirhams (-4.7%) compared to during the same period of 2019, underlines the ministry, specifying that this evolution results mainly from the decrease in spending under ministerial budgets.

The ministry also notes that the special treasury accounts showed a surplus of MAD 9.4 billion against MAD 4.6 billion a year earlier, an increase of MAD 4.8 billion, noting that this increase is mainly explained by the surplus of MAD 9 billion released by the Special Fund for the management of the Covid-19 pandemic.

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