The Ministry of Economy and Finance reported that the status of deferrals and treasury resources as of the end of last November revealed a budget deficit of 51.4 billion dirhams, compared to a deficit of 47.9 billion dirhams a year ago.
The Ministry explained, in a document on the status of deferrals and treasury resources for the month of November 2023, that this development includes an increase in total expenditures (plus 9.2 billion dirhams), which exceeded incomes (plus 5.7 billion dirhams).
Ordinary revenues amounted to 275.11 billion dirhams at the end of last November, a completion rate of 88 percent compared to the 2023 Finance Law, while total expenditures amounted to 326.52 billion dirhams, a completion rate of 86.3 percent.
Regular expenditures amounted to approximately 262.9 billion dirhams, recording a completion rate of 90.2 percent. Compared to the end of November 2022, these expenditures witnessed an increase of 3.4 billion dirhams, including, on the one hand, an increase in both expenditures related to “goods and services” (plus 11.6 billion dirhams) and debt interest (plus 3.3 billion dirhams), On the other hand, clearing costs decreased (minus 11.5 billion dirhams),
The development of regular incomes and expenditures was reflected by recording a positive regular balance of 12.2 billion dirhams, compared to 9.9 billion dirhams at the end of November 2022.
With regard to investment expenditures, the value of issuances in this regard recorded a completion rate of 93.6 percent. Its value amounted to 85.3 billion dirhams, marking an increase of 10.2 billion dirhams (plus 13.6 percent) compared to the same period in 2022.
On the other hand, the treasury’s own accounts achieved a surplus balance of about 21.7 billion dirhams, compared to 17.2 billion dirhams at the end of November 2022.
The resources of these accounts take into account the amount of 18.9 billion dirhams, related to the income of the special fund for managing the effects of the earthquake, and 7 billion dirhams resulting from the social solidarity contribution on profits and incomes, allocated to the Fund to Support Social Protection and Social Cohesion, compared to 6.6 billion dirhams a year ago.
The document relating to the status of treasury endowments and resources is considered a statistical document that presents the results of implementing the expectations of the Finance Law by adopting a comparison with the achievements recorded during the same period last year.
It is noteworthy that while the position document of the Kingdom’s public treasury is characterized by an accounting nature, the document on the position of treasury expenditures and resources addresses, as stipulated by international standards in the field of public finance statistics, the economic transactions completed during the budget period by describing the flows of ordinary income, ordinary expenditures, investment expenditures, and deficits. Budget and financing requirements and funds mobilized to cover these requirements.