The Kingdom’s General Treasury reported that the status of deferrals and treasury resources, based on collected revenues and outgoing expenses, showed a financial deficit of 37.1 billion dirhams at the end of October 2023, compared to a deficit of 25 billion dirhams a year ago.
The Kingdom’s General Treasury stated, in its monthly bulletin on public finance statistics for the month of October 2023, that this deficit takes into account a positive balance of 37.3 billion dirhams from the private accounts of the treasury and independently managed state facilities.
Thus, the same source explained that the total raw regular revenues amounted to 264.7 billion dirhams during the first ten months of the year, an increase of 8.9 percent, as a result of the increase in direct taxes by 5 percent, customs duties by 9.7 percent, and taxes Indirect revenues are 1.1 percent, registration and stamp fees are 8.7 percent, and non-tax revenues are 51.8 percent.
Total tax revenues amounted to 225.4 billion dirhams, compared to 217.2 billion dirhams at the end of October 2022, an increase of 3.8 percent. This development is due to a decrease in customs revenues by 0.9 percent and an increase in local taxes by 6.3 percent.
Expenses issued as part of the general budget amounted to 418.8 billion dirhams, an increase of 20.6 percent compared to the level recorded at the end of October 2022, as a result of an increase in management expenses by 4.6 percent, investment expenses by 35.6 percent, and debt costs included in The budget is 57.1 percent.
The increase in budgeted debt costs by 57.1 percent is due to an increase in principal installments by 82.3 percent (79.8 billion dirhams, compared to 43.7 billion dirhams) and 15.7 percent in debt interest (30.9 billion dirhams, compared to 26.7 billion dirhams).
Regarding expenses, at the end of October 2023, obligations, including those not subject to the prior commitment visa, amounted to a total of 585.6 billion dirhams, which represents a general commitment rate of 72 percent, compared to 70 percent at the end of October 2022. The rate of issuance of commitments was 90 percent, compared to 88 percent a year ago.
On the basis of collected income and outgoing expenses, a positive ordinary balance of 6.6 billion dirhams was recorded at the end of October 2023, compared to a negative ordinary balance of 644 million dirhams a year ago.
The revenues from the treasury’s private accounts amounted to 140.5 billion dirhams. These incomes take into account payments coming from the joint investment expenses in the general budget, amounting to 28.3 billion dirhams, compared to 21.2 billion dirhams at the end of October 2022.
The expenditures issued by these accounts amounted to 104.3 billion dirhams, including the share of the treasury’s special accounts recovered, tax exemptions, and refunds amounting to the equivalent of 3.6 billion dirhams, bringing the total balance of the treasury’s special accounts to 36.2 billion dirhams.
Regarding the revenues of independently run state facilities, they increased by 32.5 percent, to 2.37 billion dirhams, while expenses amounted to 1.32 billion dirhams, a decrease of 4.7 percent compared to the end of October 2022.