The execution of the finance law, on the basis of revenue collected and expenditure issued, reveals impacts, in terms of revenue, expenditure and Treasury balances at the end of September 2020 and in comparison with the same period of 2019, indicates the monthly bulletin of public finance statistics (BMSFP) for the month of September of the General Treasury of the Kingdom (TGR) under the Ministry of the Economy, Finance and the Reform of the Administration.
According to data collected by the TGR reported in its September BMSFP, gross tax revenue stood at 151.3 billion dirhams (billion dirhams) for the first nine months of this year, a decrease of 6.9 % compared to the end of September 2019, according to the General Treasury of the Kingdom (TGR). A drop that would result from the decline in customs revenue by 12.4% and domestic taxation by 4.4%.
Regarding the gross revenue component, the document indicates a decrease of 0.1% which is due to the decrease in net customs revenue (customs duties, import VAT and ICT on energy products) were 40.96 billion dirhams, at the end of September 2020 against 46.79 billion dirhams a year earlier, down 12.5% or -5.83 billion dirhams compared to their level at the end of September 2019, taking into account refunds, deductions and tax refunds of 81 million dirhams (MDH) at the end of September 2020, specifies the document.
The bulletin also highlights that the net receipts realized under domestic taxation stood at 96.6 billion dirhams at the end of September 2020 against 100.3 billion dirhams at the end of September 2019, a decrease of 3.7% or -3.72 MMDH, taking into account the refunds, rebates and tax refunds supported by the general budget which were 5.03 billion dirhams at the end of September 2020 against 5.96 billion dirhams a year earlier. Gross domestic tax receipts stood at 101.6 billion dirhams at the end of September 2020.
In addition, non-tax revenue stood at 34 billion dirhams against 23 billion dirhams a year earlier, up 48.2% or +11.1 billion dirhams, in particular due to the increase in payments from special treasury accounts (CST ) for the benefit of the general budget (18.1 billion dirhams against 3.7 billion dirhams) and assistance funds (4.40 billion dirhams against 571 million dirhams), combined with the decrease in monopoly revenues (7.86 billion dirhams against 8.62 billion dirhams ), privatization receipts, debt reduction receipts (1.32 billion dirhams against 1.980 billion dirhams) and gas pipeline fees (296 million dirhams against 744 million dirhams).
The BMSFP shows for the last key point cited (Treasury balances) an ordinary balance of 2.5 billion dirhams against a negative balance of 8.2 billion dirhams for the previous year. The BMSFP also indicates a Treasury deficit of 41.3 billion dirhams, taking into account a positive balance of 4.9 billion dirhams released by the special treasury accounts (CST) and autonomously managed state services (SEGMA) against a Treasury deficit of 33.3 billion dirhams at the end of September 2019 taking into account a positive balance of 4.8 billion dirhams generated by the CST and the SEGMA.
In terms of expenditure, an overall expenditure commitment rate was recorded of 65 and an issuance rate on commitments of 88% compared to 66% and 85% respectively during the past financial year. Ordinary expenses issued are up 3.2%, due to the 8.8% increase in expenditure on goods and services, due to the 6.5% increase in personnel expenses and 14.1% other expenditure on goods and services, combined with a 2.3% drop in interest charges on the debt, 37.9% in compensation issues and 15.1% in tax refunds and refunds.
The overall amount of VAT refunds within and on imports (including the part borne by local authorities) is 6,973 MDH against 7,973 MDH at the end of September 2019. As for the investment expenses issued, they are up 7.4%, from 45.3 billion dirhams at the end of May 2019 to 48.7 billion dirhams at the end of September 2020, due to the 34.5% increase in expenditure on common charges and the decrease of 11% departmental spending.