Here are the main changes observed in the Monthly Bulletin of Public Finance Statistics (BMSFP) at the end of December 2020, published on Sunday by the General Treasury of the Kingdom (TGR).
The bulletin focuses on the following trends, revenue, expenditure and Treasury balances, knowing that the situation of charges and resources of the Treasury (SCRT) the statistical document of the Ministry of the Economy, Finance and Reform of the Administration, (results of the execution of the forecasts of the finance law with comparison with the achievements of the same period of the previous year at the end of December), had been published the day before Saturday.
It therefore emerges from the BMSFP as regards revenue and gross revenue, that they are down by 1.8%, impacted in this by the decrease in net customs revenue of 10.4%, with regard to refunds, reductions and tax refunds. of 117 million dirhams (MDH) at the end of 2020 against 205 million dirhams a year earlier. The decrease in the domestic consumption tax (TIC) on manufactured tobacco (-0.9%) and the increase in other TIC (+ 0.8%) and the decrease in net domestic tax revenue of 4.6% , taking into account refunds, reductions and tax refunds which were 7.996 billion dirhams (billion dirhams) at the end of December 2020 against 7.50 billion dirhams a year earlier also contributed.
With regard to expenditure, the overall expenditure commitment rate and the issuance rate on commitments increased significantly by the point with respectively 86% from 93% at the end of 2020, against 85% and 92% a year earlier.
Ordinary expenses issued are up 1.5%, due to the 5.7% increase in expenditure on goods and services, due to the 4.5% increase in personnel costs and 8.2% other expenditure on goods and services and the 5.2% increase in tax refunds, rebates and refunds, combined with the 2.7% decrease in interest charges on the debt and 35.7% in debt issues. compensation.
The overall amount of VAT refunds within and on imports (including the part borne by local authorities) is 10.34 billion dirhams against 9.86 billion dirhams at the end of December 2019. While the expenses of issued increased by 27.4%, from 70.6 billion dirhams at the end of December 2019 to 89.9 billion dirhams at the end of December 2020, due to the 114.3% increase in expenditure on common charges and 10% drop in ministry spending.
Regarding Treasury balances, we note the positive ordinary balance of 5.8 billion dirhams against a positive ordinary balance of 14 billion dirhams during the previous year. We will also retain a treasury deficit of 82 billion dirhams, taking into account a positive balance of 2.1 billion dirhams released by the special treasury accounts (CST) and autonomously managed state services (SEGMA), against a Treasury deficit of 46.5 billion dirhams at the end of December 2019, taking into account a positive balance of 10.1 billion dirhams generated by the CSTs and the SEGMAs.
During the year 2020 it should be remembered that the Treasury resorted to international borrowing from the financial markets for 37.5 billion dirhams the equivalent of 3 billion dollars and 1 billion euros;